DAILY MARKET REPORT - Monday, April 19, 2021

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The EURUSD jump to above 1.2000 psychological level on Monday. The main attraction for EURO this week, the ECB Monetary policy statement and press conference on Thursday.

EQUITIES

Chinese shares ended higher on Monday boosted by strong economic data while the US futures trading slightly lower on concerns about rising COVID-19 cases in India, the Philippines, and other countries.

On the earnings front, Coca- Cola (NYSE: KO) reporting earnings today before the bell while IBM (NYSE: IBM) and United Airlines (NASDAQ: UAL) is scheduled to report results after the market close.

OIL

Crude oil prices trading unchanged on Monday. During the last week, the oil prices climb to fresh monthly highs supported by larger than expected crude inventories and the weaker dollar.

CURRENCIES

In the currency market, the US dollar index plunged to a fresh monthly low of 91.20 on Monday. On the other hand, the commodity currencies Australian dollar and New Zealand dollar hit new weekly high boosted by the gold price and stock market rally.

GOLD

The Safe-haven metal extends higher on Monday after the yield on the benchmark 10-year Treasury note edged down to 1.56%.

Economic Outlook

On the data front, Japanese exports grew by 16.1% YoY during March, the sharpest rise since November 2017. Meanwhile, the imports rose by 5.7% YoY to a 14-month high over the same period.

This week the main highlights of the economic calendar will be the European Central Bank and Bank of Canada meeting, UK employment and retail sales figures, manufacturing PMI data from the US, UK, and Eurozone.

Coronavirus update:

Worldwide, more than 140 million people have been confirmed infected and more than 3 million have died. The United States has confirmed over 31.62 million cases and has had more than 566,00 deaths from COVID-19, the highest totals in the world.

Technical Outlook

DOLLAR INDEX:
The Index trading near the short-term support area 91.00. Any break below this level the next strong support area near 90.60/50. On the flip side, the immediate resistance at 91.30.

DXY


The important levels to watch for today: Support- 91.00 and 90.60 Resistance- 91.30 and 91.60.

GOLD: The yellow metal trading above $1780 area during the European session, if the bullish momentum continues the next upside levels to watch the $1795 and $1802 zone. On the flip side, the immediate support at $1780/74.

gold neww


The important levels to watch for today: Support- 1783 and 1774 Resistance- 1795 and 1802.

Quote of the day: “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.” ― Warren Buffett.

Read more- https://gulfbrokers.com/en/daily-market-report-288
 
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