- In today’s Economic Calendar we can expect to see some volatility in the EUR, USD and CAD
- At 11:30 (GMT), the European Central Bank (ECB) will release their Monetary Policy Meeting Accounts
- The above, encloses an overview of the financial market, the economic and monetary developments
- At 12:30 (GMT), the Department of Labor of the USA will release their Initial Jobless Claims figures
- That number shows the total of people who have submitted for the first time State unemployment insurance
- That result is forecasted to increase to 5250K considering that last month was at 6648K
- At 12:30 (GMT), the Statistics office of Canada will announce their Unemployment Rate figures
- That result is forecasted to increase to 7.2% considering that last month was at 5.6%
- At 19:00 (GMT), the Organization of the Petroleum Exporting Countries (OPEC) will have a meeting discussing the petroleum policies
- With the result to the above meeting, this could create some volatility in Crude Oil
On the Charts
- The Gold price is now at 1,649
- The precious metal's price, after the sharp downward movement from the middle of March, it has moved to the upside the last two weeks
- Now it is above the previous support level (blue dash line), and the 76.4% Fibonacci Retracement level (From 1,703 to 1,450) at 1,645
- Price is above the 50 days Moving Average (Orange)
- RSI and MACD are above zero, showing some bullish momentum
- If the price remains above the 1,645 price level, there is a possibility to see the price moving higher to 1,703. That price consists the top at the start of March
- Otherwise, we may see the price moving lower to 1,569 – the previous support level