Nationwide HPI (MoM), UK
WHEN: WHAT IT INFLUENCES:
29th MARCH 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING: The Nationwide Housing Price Index (HPI) measures the change in the selling price of homes with mortgages backed by Nationwide. It is the U.K.’s second earliest report on housing inflation.
GBPJPY is trading in an upward channel further upside can be seen in the coming days.
GDP (MoM) (Jan), CANADA
WHEN: WHAT IT INFLUENCES:
31st MARCH 2021 CAD and its subsequent
pairs
WHAT’S HAPPENING: Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Canada releases fresh GDP data on a monthly basis.
USDCAD is trading in a downward channel further downside can be seen in the coming days.
Pending Home Sales (MoM) (Feb), US
WHEN: WHAT IT INFLUENCES:
31st MARCH 2021 USD and its subsequent
pairs
WHAT’S HAPPENING: The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
USDNOK is trading in a parallel channel it will continue consolidation until it breaks the channel either side.
Gold Brushes $1,730 High
WHAT IT HAD INFLUENCED:
GOLD
WHAT HAPPENED:
In Thursday’s trade, benchmark gold futures on New York’s Comex settled up $12.80, or 0.8%, at $1,728.40 an ounce, after a session high at $1,731.05.
With Monday’s 1.8% jump, Comex gold has virtually recovered what it lost in the first two sessions of the week that hurtled the market to the $1,600 territory it had not visited since March 12. For the week, Comex gold was down just 0.2%.
The spot price of gold not far from the spot contract in futures. At 2:28 PM ET (18:28 GMT), spot gold was up $42.33, or 2.5%, to trade at $1,727.59.
Gold is trading in a downward trend; it had taken support from 1677.31 further downsides will be seen if it breaks this level.
Oil Demand Boosted By Highest Number Of Flights Since COVID Started
WHAT IT HAD INFLUENCED:
WTI CRUDE OIL
WHAT HAPPENED: The number of commercial flights looks to have hit a post-pandemic high in the past days, outstripping the previous high from Christmas travel and potentially boding well for jet fuel demand going forward.
According to global flight tracking service Flightradar24, as reported by Bloomberg News’ Chief Energy Correspondent Javier Blas, the 7-day rolling average of the number of flights tracked by Flightradar24 hit the highest on Wednesday since the start of the pandemic. Flightradar24 tracked a total of 77,708 flights—both passenger and freight—a number which exceeded the previous peak during the Christmas holidays since COVID started spreading. Higher numbers of flights in the major markets—the United States and China—were behind the increase, according to Bloomberg.
Rising numbers of air travellers could help global aviation fuel demand, which has been hit the hardest by the pandemic with international flight restrictions and quarantines.
In the United States, the number of airs travellers in a day exceeded 1.5 million at the end of March, for the first time since the middle of March 2020, in a good sign for oil demand as U.S. citizens start to travel more, including by plane.
WTI CRUDE OIL was in the uptrend channel. After breaking the channel further downside will be seen.
BITCOIN HITS $60,000 ON COINBASE AND MORGAN STANLEY’S STREET SWAPPING
WHAT IT HAD INFLUENCED:
BTCUSD
WHAT HAPPENED: Coinbase announced late night Thursday that it received approval from the US securities regulator, the Securities and Exchange Commission, to list its share on the Nasdaq via a so-called direct listing under the ticker ‘COIN’ on April 14. In retrospect, a direct listing requires a company to save the money it pays to investment banks instead of raising it in the process.
The US cryptocurrency firm, launched in 2012, provides exchange, trading, staking, and custodianship services to its retail and institutional clients. Its presence in more than 100 countries brought about $1.3 billion in revenue and $322 million in profits in 2020.
Filings with the SEC show the cost to purchase one Coinbase Global share at a price that would shoot its value to around $67.6 billion. The firm has $1 billion in cash reserves, which expects to protect it from bitcoin’s notorious price fluctuations that impact everything from its revenues to earnings.
BTCUSD is trading in an upward trend. Further upside can be seen in the coming days.
5 KEY EVENTS TO WATCH OUT
Markit Services PMI (Mar), RUSSIA
WHEN: WHAT IT INFLUENCES:
5th APRIL 2021 RUB and its subsequent
pairs
WHAT’S HAPPENING: The Russian HSBC Services PMI is compiled by questionnaires sent to purchasing executives in private service sector companies. The panel has been carefully selected to accurately replicate the true structure of the services economy. The HSBC Services PMI Index is developed for providing the most up-to-date possible indication of what is really happening in the private sector economy by tracking variables such as sales, employment, inventories and prices.
A higher-than-expected reading ought to be taken as positive/bullish for the RUB, whereas a lower-than-expected reading should be taken as negative/bearish for the RUB.
ISM Non-Manufacturing PMI (Mar), US
WHEN: WHAT IT INFLUENCES:
5th APRIL 2021 USD and its subsequent
pairs
WHAT’S HAPPENING: The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) (also known as the ISM Services PMI) report on Business, a composite index is calculated as an indicator of the overall economic condition for the non-manufacturing sector. The NMI is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries.
A higher-than-expected reading ought to be taken as positive/bullish for the USD, whereas a lower-than-expected reading should be taken as negative/bearish for the CAD.
USD
Services PMI (Mar), UK
WHEN: WHAT IT INFLUENCES:
7th APRIL 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING: The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher-than-expected reading ought to be taken as positive/bullish for the GBP, whereas a lower-than-expected reading should be taken as negative/bearish for the GBP.
Building Approvals (MoM), AUSTRALIA
WHEN: WHAT IT INFLUENCES:
8th APRIL 2021 AUD and its subsequent
Pairs
WHAT’S HAPPENING: Building Approvals (also known as Building Permits) measures the change in the number of new building approvals issued by the government. Building permits are key indicator of demand in the housing market.
A higher-than-expected reading ought to be taken as positive/bullish for the AUD, whereas a lower-than-expected reading should be taken as negative/bearish for the AUD.
Employment Change (Mar), CANADA
WHEN: WHAT IT INFLUENCES:
9th APRIL 2021 CAD and its subsequent
pairs
WHAT’S HAPPENING: Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
A higher-than-expected reading ought to be taken as positive/bullish for the CAD, whereas a lower-than-expected reading should be taken as negative/bearish for the CAD.
EQUITIES IN THE COMING WEEK
1. Schnitzer (SCHN) to announce its Quarterly Results on 7th April 2021, EPS estimated to 0.9 per share while revenue estimated 580.64M.
2. Levi Strauss A (LEVI) to announce its Quarterly Results on 8th April 2021, EPS estimated to 0.2407 per share while revenue estimated 1.25B.
3. Corus Entertainment (CJREF) to announce its Quarterly Results on 9th April 2021, EPS estimated to 0.0954 per share while revenue estimated 283.26M.
4. C-Bond Systems (CBNT) to announce its Quarterly Results on 7th April 2021, EPS estimated to -0.01 per share while revenue estimated 400K.
5. Stealth Bio (MITO) to announce its Quarterly Results on 7th April 2021, EPS estimated to -0.0033 per share while revenue estimated 17.5M.
TOP COMMODITIES IN THE COMING WEEK
GOLD
Gold is trading in a downward trend; it had taken support from 1677.31 further downsides will be seen if it breaks this level.
SILVER
SILVER is trading in a parallel channel further downside will be seen if it breaks 23.515 level and upside will be seen if it breaks 28.137 level.
WTI CRUDE OIL
WTI CRUDE OIL was in the uptrend channel. After breaking the channel further downside will be seen.
TOP CRYPTO IN THE COMING WEEK
BTCUSD
BTCUSD is trading in an upward trend. Further upside can be seen in the coming days.
ETHEREUM
ETHEREUM is trading in an upward channel. Further upside will be seen in the coming days.
TOP CURRENCY IN THE COMING WEEK
EURUSD
EURUSD is trading in a downward trend, Further downside will be seen in the coming days.
GBPUSD
GBPUSD was in the uptrend channel. After breaking the channel further downside will be seen.
EURJPY
EURJPY is trading in an up channel, further upside can be seen in the coming days.
TOP INDEX IN THE COMING WEEK
CAC 40
CAC 40 is currently in the up channel. Further upside will be seen in the coming days.
DAX 30
DAX 30 is currently in an uptrend. Further upside will be seen in the coming days.
DJ EURO STOXX 50
DJ EURO STOXX 50 is in the up channel; further upside will be seen in the coming days.
DATA WATCH
| Time | Currency | Event | Forecast | Previous |
| Sunday, April 4, 2021 | ||||
| 20:30 | JPY | Services PMI (Mar) | 46.3 | |
| Monday, April 5, 2021 | ||||
| 10:00 | USD | Factory Orders (MoM) (Feb) | -0.50% | 2.60% |
| 10:00 | USD | ISM Non-Manufacturing Employment (Mar) | 52.7 | |
| 10:00 | USD | ISM Non-Manufacturing PMI (Mar) | 58.5 | 55.3 |
| 19:30 | JPY | Household Spending (MoM) (Feb) | 2.80% | -7.30% |
| 19:30 | JPY | Household Spending (YoY) (Feb) | -5.30% | -6.10% |
| 21:45 | CNY | Caixin Services PMI (Mar) | 51.5 | |
| 21:45 | CNY | Chinese Composite PMI (Mar) | 51.6 | |
| Tuesday, April 6, 2021 | ||||
| All Day | Hong Kong – Easter | |||
| 00:30 | AUD | RBA Interest Rate Decision (Apr) | 0.10% | 0.10% |
| 00:30 | AUD | RBA Rate Statement | ||
| 03:00 | EUR | Spanish Unemployment Change | 44.4K | |
| 05:00 | EUR | Unemployment Rate (Feb) | 8.10% | 8.10% |
| 08:00 | USD | EIA Short-Term Energy Outlook | ||
| Wednesday, April 7, 2021 | ||||
| 00:30 | INR | Interest Rate Decision | 4.00% | 4.00% |
| 03:15 | EUR | Spanish Services PMI (Mar) | 46.8 | 43.1 |
| 03:45 | EUR | Italian Services PMI (Mar) | 49.1 | 48.8 |
| 10:30 | USD | Cushing Crude Oil Inventories | 0.782M | |
| Thursday, April 8, 2021 | ||||
| 02:00 | EUR | German Factory Orders (MoM) (Feb) | 1.00% | 1.40% |
| 21:30 | CNY | CPI (MoM) (Mar) | 0.60% | 0.60% |
| 21:30 | CNY | CPI (YoY) (Mar) | -0.40% | -0.20% |
| 21:30 | CNY | PPI (YoY) (Mar) | 1.50% | 1.70% |
| Friday, April 9, 2021 | ||||
| 01:45 | CHF | Unemployment Rate n.s.a. (Mar) | 3.60% | |
| 08:30 | CAD | Employment Change (Mar) | 90.0K | 259.2K |
| 08:30 | CAD | Unemployment Rate (Mar) | 8.00% | 8.20% |
| 12:00 | USD | WASDE Report | ||
| 13:00 | USD | U.S. Baker Hughes Oil Rig Count | 337 | |
| 13:00 | USD | U.S. Baker Hughes Total Rig Count | 430 |
