empty
 
 
16.04.2020 08:51 AM
Trading plan for EUR/USD for April 16, 2020.

This image is no longer relevant

On Wednesday, the US market fell, finally noticing the negative state of the economy. Above is the S&P 500 daily chart.

Meanwhile, oil reserves in US reached 19.2 million barrels, so price dropped to $ 19.8

JPMorgan reported a -69% drop in the 1st quarter profit.

Retail sales in US for the month of March fell to -8%.

The Dow Jones Industrial Average fell to minus 78 in April.

Today, the weekly report on the US labor market will come out at 13:30 London time. It will contain the latest data on applications for unemployment benefits, which is expected to reach 5-6.5 million.

US and EU authorities are actively discussing ways on how they can gradually lift the quarantine measures. Shops and enterprises are already opened in some parts of Italy. Germany, on the other hand, will start on May 3.

Coronavirus update:

US: The number of infected is still high - 644,000. Infection rate is below 5% (+30,000 per day). Unfortunately, death toll is +2,482 per day.

New York - 214,000 cases. Infection rate is + 5% (+11,000 per day). Death toll is 752 per day.

Europe: Death toll in France is +1,438 per day. Infection rate is + 3%.

Death toll in Italy and Spain: 500-600 per day.

Conclusions: The pandemic is slowly receding in the US. Although the situation in Europe is stabilizing, the situation in southern countries, such as Britain and France, is still complicated. Continuing the quarantine measures is recommended.

Unfortunately, the quarantine measures are affecting economies negatively. Authorities are forced to try finding a balance - impose partial quarantine while gradually reopening the economy. Thus, US and EU economies are likely to reopen by mid-May.

This image is no longer relevant

Euro declined on Wednesday, after the report that EU will allocate € 3 trillion to support the economy.

Employment report will come out at 13:30 London time.

Open buy positions from 1.0990.

Open sell positions from 1.0765.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback