Spikes in world indices

Analisi Giornaliera - 07/04/2020

Markets Up

world-markets-go-up


Yesterday in New York and this morning in Tokyo traders bought hope and drove the SP and the NKY up 6.7 and 5.98 percent respectively. These kinds of spikes are what make the opportunities presented by the covid-19 markets so lucrative. Risky to be sure, but when the market moves so much and so fast, the possibility of catching a positive wave by its obvious movement rises mightily. USD gives back some of its recent safe haven gained strength to its partners particularly the Aussie.

USDNDX weakens


The greenback showed some weakness yesterday by returning some of its strength against its partners in global trade by falling 0.49% to 100.440. Support appears at the 100.250 level and resistance at the 100.641 price. As markets display a sense that the covid-19 epidemic is subsiding in their regions, retreat from cash, particularly greenbacks, will direct that formerly prized cash back into the markets, initially the indices but particular equities too.

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Aussie US strengthens


As the RBA voted to keep its interest rate unchanged and coupled with the general weakening of the USD, the AUDUSD rate is up 1.61% at 0.61446 todays open. There is resistance at the 0.61571 level and support price could take hold, or at least provide some support at the 0.61355.

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Positive signs from Copper


Copper is a bellwether for economic activity. As one of the most important base metals in the industrial economy, changes in price can indicate the direction of economies. The orange metal is up 2.91 percent since the beginning of trade today at $2.2675/lb. on the Globex. Resistance appears to us at 2.2711 with support firming up at the 2.2636 level.

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