For Traders

Analytical Reviews

Stock Markets

21.04.202108:46 Forex Analysis & Reviews: Morning review of the US market on April 21

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

US indices dipped again yesterday, falling by approximately 0.7% in both DJIA and S&P 500, and by 0.9% in the Nasdaq Composite.

Surprisingly, the oil market also saw a decrease, but by 2.5%. Apparently, there was a 0.4 million rise in supply instead of the expected 2.8 million decline. The US also drafted a law against OPEC with regards to manipulating prices, although experts believe that such a bill has a slim chance of being approved.

With regards to the coronavirus, global incidence again hit 825,000, the same as the record last January. Leading the ranks is India who listed almost 300,000 new cases, followed by Turkey with 61,000 cases, France with 43,000 cases, and Germany and Italy with about 13,000 cases each.

Going back to the markets, Japan indices also fell by 1.9% this morning, while China indices saw a 0.3% increase.

As for oil, Brent declined to $ 66.08 today, and it may drop even lower to around $ 65.00 - $ 67.50.

Meanwhile, WTI remained at $ 62.15, but its projected range changed to $ 60.00 - $ 64.00 today.

Conclusion: Markets are awaiting the ECB meeting on Thursday, as well as the upcoming data from the United States. A strong pull back is highly likely.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.