RKI reports another 5,323 new cases in Germany over the past day This shows that the virus trajectory is still going to take more time to flatten/moderate and it isn't a good look as the government was planning to consider easing lockdown measures after the Easter break. Here is the virus trend in Germany so […]
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Saudi energy minister says that OPEC+ output cuts 'hinges on' Mexico joining the pact
Reuters reports, citing Saudi energy minister Prince Abdulaziz – Hopes Mexico would see the benefit of the OPEC+ agreement – Expects nations such as US, Brazil, Canada, and others to join OPEC+ effort to stabilise the oil market 'using their own approaches' ForexLive
China March CPI: 4.3% y/y (vs. expected 4.9%)
Inflation data from China, for March CPI 4.3% y/y (food prices are up 18.3% y/y) – expected 4.9% y/y, prior 5.2% PPI -1.5% y/y … the deflationary impact of the shutdown is weighing on PPI (its not the only factor but a biggie)
Mexico has rejected the oil production deal – talks will continue on Friday
Platts report on where the OPEC+ talks are at, headlining that the 10m barrel/day output cut 'hangs in the balance' ***** ADDED – OPEC HAVE JUST ISSUED A STATEMENT SAYING THERE WILL BE NO OUTPUT CUT UNLESS MEXICO JOINS.
Japan inflation indicator down 1% y/y
Japan Producer Price Index is inflation at a business-to-business level. The PPI fell both m/m and y/y in March, more on this in just a moment. As part of the PPI release from the Bank of Japan is a data point that loosely correlates with consumer level inflation (CPI). This is the 'domestic final goods prices' index, [&
GBP/USD Forecast: Continue Testing Major Resistance – 10 April 2020
The British Pound has been rallying during the trading session on Thursday, reaching towards 1.25 level yet again.
USD/INR Forecast: Pulling Back from 77 Level – 10 April 2020
The US dollar initially tried to rally during the trading session on Thursday, reaching all the way towards the ₹77 level again,
Gold Forecast: Ready to Push to Fresh Highs – 10 April 2020
The gold market has rallied a bit during the session on Thursday to make a fresh, new high and has even broken above the $1750 level at one point in the forward contract.
Silver Forecast: to Continue Finding Buyers – 10 April 2020
Silver markets broke higher during the trading session on Thursday, breaking above the 50 day EMA during the session but pulling back a bit from the $16 level.
WTI Crude Oil Forecast: Heading Towards Lower Levels – 10 April 2020
West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Thursday, initially rallying as much as 9%