Yesterday data on German Trade Balance in February was published. A trade surplus was 17.1 billion euros vs. forecast for 16.2 billion euros. In France trade deficit was registered, -6 billion euros vs. -5.3 billion euros and -5.7 billion euros in January. Nevertheless, the markets were bullish reflecting investors’ desire to buy assets amid the reports on corporate activity. DJIA added 0.41%, the euro rose 70 points. On Friday JPMorgan Chase is expected to announce strong data. On the contrary, the manufacturing companies which reveal reports next week are expected to have losses (even Yahoo! Inc may not have any profits and Goldman Sachs may have losses). However, on the whole it is estimated the US banking sector will grow.
This morning data on trade balance in China in March was issued. It was -$0.9 billion vs. forecast for $15.2 billion. At 7:00 GMT+4 Shanghai Composite was flat against Japanese Nikkei 225 0.73%.
At 10:45 GMT+4 data on Industrial Production in France in February is published. It is forecast to be 0.6% vs. -1.2% in January. At 12:00 GMT+4 data on Industrial Production in Italy is issued. It is estimated to drop 0.4% vs. rise for 0.8% in January.
At 22:00 GMT+4 Minutes of FOMC meeting are published. At the same time report on US Federal Budget in March is revealed. Deficit gap is expected to narrow from $203.5 billion to $110.3 billion. Finally, US president Barack Obama will today send Congress his 2014 budget.
Technically, on the daily chart the price has reached the level of conjunction of trendline and the Kruzenshtern indicator line (blue sliding) and if the support 1.3068 is tested downward movement is probable. The targets are depicted according to the H4: 1.3048, 1.3004 (the low of April 9), then 1.2990. However, if the positive scenario unfolds, the continuation of growth is possible and when the level of 1.3115 is tested, the target 1.3160 opens.
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday data on German Trade Balance in February was published. A trade surplus was 17.1 billion euros vs. forecast for 16.2 billion euros. In France trade deficit was registered, -6 billion euros vs. -5.3 billion euros and -5.7 billion euros in January. Nevertheless, the markets were bullish reflecting investors’ desire to buy assets amid the reports on corporate activity. DJIA added 0.41%, the euro rose 70 points. On Friday JPMorgan Chase is expected to announce strong data. On the contrary, the manufacturing companies which reveal reports next week are expected to have losses (even Yahoo! Inc may not have any profits and Goldman Sachs may have losses). However, on the whole it is estimated the US banking sector will grow.
This morning data on trade balance in China in March was issued. It was -$0.9 billion vs. forecast for $15.2 billion. At 7:00 GMT+4 Shanghai Composite was flat against Japanese Nikkei 225 0.73%.
At 10:45 GMT+4 data on Industrial Production in France in February is published. It is forecast to be 0.6% vs. -1.2% in January. At 12:00 GMT+4 data on Industrial Production in Italy is issued. It is estimated to drop 0.4% vs. rise for 0.8% in January.
At 22:00 GMT+4 Minutes of FOMC meeting are published. At the same time report on US Federal Budget in March is revealed. Deficit gap is expected to narrow from $203.5 billion to $110.3 billion. Finally, US president Barack Obama will today send Congress his 2014 budget.
Technically, on the daily chart the price has reached the level of conjunction of trendline and the Kruzenshtern indicator line (blue sliding) and if the support 1.3068 is tested downward movement is probable. The targets are depicted according to the H4: 1.3048, 1.3004 (the low of April 9), then 1.2990. However, if the positive scenario unfolds, the continuation of growth is possible and when the level of 1.3115 is tested, the target 1.3160 opens.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: