Progress with vaccination campaigns | 30 Abril 2021

#WTI:

The concerns over lower crude production in Libya offset expectations that rising coronavirus cases in India and Japan would cause energy demand to decline. Libya said its oil production fell to about 1 million barrels per day in recent days and could drop further due to budgetary issues. OPEC+ members are due to meet next week but major changes to production policy are unlikely, Russia's deputy prime minister and OPEC+ sources said. Gains in oil are likely to remain capped until India and Japan, as the third and fourth-largest oil consumers, turn a corner in their battle against the virus.

Trading recommendation: buy 61.50 and take profit 63.60.

#SP500:

Positive macroeconomic statistics from the United States will have a positive impact on the course of trading. The Commerce Department said that new home sales surged 20.7% to a seasonally adjusted annual rate of 1.021 million units last month. Economists had forecast new home sales, which account for a small share of U.S. home sales, increasing to a rate of 886,000 units in March. The real estate market is an indicator of the health of the economy! The economy is being boosted by the White House's massive $1.9 trillion COVID-19 pandemic rescue package and increased vaccinations against the virus.

Trading recommendation: Buy 4165 and take profit 4228.

#ESTX50:

The euro zone's recovery from its pandemic-induced economic downturn was much stronger than expected in April. IHS Markit's flash Composite Purchasing Managers' Index, seen as a good guide to economic health, rose to a nine month high of 53.7 from March's 53.2. The European Central Bank kept its copious stimulus flowing to support the economy as President Christine Lagarde said there were clear signs of improvement. «Progress with vaccination campaigns and an envisaged gradual relaxation of containment measures underpin expectations of a firm rebound in economic activity in the course of 2021», she told a press conference. This is a positive signal for the European stock market.

Trading recommendation: buy 3998 and take profit 4060.