#WTI:
Russia, Saudi Arabia and its allies, which make up the informal OPEC+ group, had forged a pact to curb crude production by the equivalent of 10% of global supplies in talks. Measures to curb the spread of the COVID-19 has dried up demand for fuel for planes and cars, straining budgets of oil producing nations. The oil cartel called on allies to hold an emergency meeting on April 9. " U.S. oil output could fall by between 2 million and 3 million bpd by the end of 2020," U.S. Energy Secretary Dan Brouillette told the G20 talks. We are expecting the bullish rally in the oil market to continue!
Trading recommendation: Buy 27.55 and take profit 30.30
#SP500:
The Federal Reserve remains committed to using its full range of tools to support the flow of credit to households and businesses to counter of the COVID-19 pandemic. The Federal Reserve took additional actions to provide up to $2.3 trillion in loans to support the economy. The Federal Reserve's role is guided by its mandate from Congress to promote maximum employment and stable prices, along with its responsibilities to promote the stability of the financial system. This is a positive signal for the U.S. stock market. We are expecting the bullish rally to continue in the new week!
Trading recommendation: Buy 2729 and take profit 2800.
#DeutscheBK:
European central bank adopts an unprecedented set of collateral measures to mitigate the tightening of financial conditions across the euro area. ECB eases the conditions for the use of credit claims as collateral and adopts a general reduction of collateral valuation haircuts. The system is complementary to other measures recently announced by the ECB, including additional longer-term refinancing operations and the Pandemic Emergency Purchase Programme as a response to the COVID-19 emergency. This is a positive signal for European banks.
Trading recommendation: Buy 6.61 and take profit 6.84
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