04.05.202113:27 Forex Analysis & Reviews: Morning review of the US market (05/04/2021)

US indices resumed growth yesterday, after one board member of the Fed said the US economy could grow as high as 7% this year. The IMF gave a similar forecast, saying that the economy could jump by 6.4%.

Dow Jones, S&P 500 and Nasdaq all gained 0.7%, 0.3% and 0.5%, respectively.

But for the Asian markets, a slight decrease took place. Japan saw a 0.8% decline, while China maintained its levels.

With regards to the world's epidemiological situation, another dip in infections was recorded. Total cases is now below 700,000, with India listing roughly 355,000.

Other countries also saw improvements. For example, both Brazil and the US have less than 40,000 new coronavirus cases. Turkey and Germany have approximately 10,000, while France has less than 4,000.

Going back to the markets, the oil sector is still looking down this week. Brent continued to decline, but this time by only 0.2%. It currently costs $ 67.40, but it is expected to trade around $ 66.00 - $ 69.00 today.

WTI also fell by 0.2%, reaching a price of $ 64.30. It is projected to cost around $ 63.00 - $ 66.00 today.

As for macro statistics, the US will publish reports on employment this Wednesday, Thursday and Friday.

Conclusion: the US market is trading in a range in anticipation of new impulses from upcoming macroeconomic reports. Most likely, this will end up with a strong pullback.