Gold 1693,50
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EURUSD 1,0799
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DJIA 24115
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OIL.WTI 25,095
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DAX 10609
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After the markets got all macroeconomic data on Thursday, a calm trading started. While Trump is thinking about measures to be taken against China, markets are optimistic and continue to grow moderately.
EUR/USD
In Europe, as in the United States, there are moments that indicate the beginning of economic recovery. The U.S. dollar, which, though strong, always plays against risky assets, tends to fall following the growth of markets. In general, the day ended on a positive moment for the markets, as life after quarantine is getting better and the economy is starting to work. On Thursday, the S&P 500 traded at 3060, which is already above 3000, which was very difficult. The DAX added more than 1% on Thursday and closed at 11781. The economy is recovering.
Euro
The Euro has finally passed the level of 1.10 and it is a very significant event. On the weakening dollar, investors believed in the Euro, as very soon the EU government will have to implement a project of recovery measures worth 500 billion euros. All this was very positive for the pair, especially when it was detailed how much and which country will receive help. Of course, it is very important for the Euro to consolidate itself above the level of 1.10 now, so that it can try to climb new heights.
Bitcoin
Today comes the moment of futures expiration on the CME exchange, which usually brings turmoil and considerable volatility. Bitcoin was able to hold out during a pandemic, although in many ways investors were simply not comfortable with cryptos at such a difficult time. So far, the $10000 mark for Bitcoin has been one of the most powerful levels. Many crypto enthusiasts are really looking forward to it. But experience shows that Bitcoin is very bad with powerful levels. So far, we are watching how the situation develops and how the coin will behave when it comes to this serious level of resistance.
Gold
Gold does not give up its position in the market, although the stock market shows that the assets are gradually turning into risky ones. Perhaps this is part of the money that the U.S. Federal Reserve and the ECB were going to pump into the financial economy. The gold was correcting as we had anticipated before, and continued to rise to its highs. The end of the week may not bring a conquest of the highs, but it should close at the current levels.
What’s waiting for us today?
11.00 Consumer price index in Europe.
14.30 GDP Canada.
14.30 Number of initial claims for unemployment benefit in the USA
17.00 Speech by Fed Governor Powell
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