- In today’s economic calendar, we can expect some volatility in the EUR and the USD
- At 09:00 (GMT), the European Commission will circulate the survey relating to the Business Climate
- The result is forecasted to decrease to -0.05, considering last month's result was at -0.04
- At 12:00 (GMT), the Statistical office of the European Union will announce the Harmonized Index of Consumer Prices for Germany
- That number is an indicator of inflation and price stability
- The result is forecasted to decrease to 1.4%, considering last month's result was at 1.7%
- At 14:00 (GMT), the USA National Association of Realtors will announce their Pending Home Sales for the previous month
- That number is a leading indicator of housing activity, since it measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops.
- The result is forecasted to decrease to -1.3%, considering last month was at 5.2%
- On Friday 27/03/2020, Donald Trump signed the $2 trillion coronavirus relief bill as the US tries to prevent Economic devastation
Global Indices Last week:
Dow Jones: +17.64%
SP 500: +15.29%
Nasdaq: +9.83%
Dax 30: +11.96%
CAC40: +7.91%
MIB: +6.93%
IBEX: +6.75%
On the Charts
- S&P 500 opened with a big gap to the downside today to $2,455
- At midnight the price filled the gap and now is at 2,560
- Last week, the Index moved to the upside, and it found twice resistance at the 38.2% Fibonacci Retracement level (From 3397 to 2174), the 20 days Moving Average and the downward trendline
- Momentum is remaining bearish, even though it gained some upside strength last week
- If the price fails to break above the upward trendline and the 38.2% Fibonacci Retracement level at $2,640, then there is a possibility to test again the $2,174 level
- Otherwise, we may see the price moving higher to $2,900 price level, the 61.8% Fibonacci Retracement and a previous inside support