Analytic reviews

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce back for the third session in five sessions from the lowest since March 25 against the US dollar on the cusp of developments and economic data expected Friday by France, the second largest euro area economy and the largest US economy Economy of the World, which includes the talk of members of the Federal Open Market Committee

At exactly 05:52 am GMT, the euro pair rose against the US dollar by 0.08% to 1.0939 levels compared to the opening levels at 1.0930 after the pair achieved its highest level during the trading session at 1.0944, while achieving the lowest at 1.0920.

The markets are currently looking by France for the release of the Industrial Production Index reading, which may reflect stability at zero levels against a rise of 1.2% in February. Otherwise, we followed yesterday the European Central Bank Governor Christine Lagarde expressed the fact that there can be forms From European solidarity, explaining that this could be done by spending a joint budget or a reconstruction fund.

On Thursday, the European Central Bank indicated to Lagarde that the value of the euro is stable at the moment and that the level of the euro is good compared to other currencies, with its discussion of the fact that the European Central wishes to see high inflation rates, and that it will work to ensure the transfer of its policy to the entire euro area, adding that The focus should only be on bonds facing the Corona virus.

Otherwise, yesterday we also followed the agreement of the European Union finance ministers on a stimulus package worth 540 billion euros ($ 590 billion) to combat the economic repercussions of the global epidemic. In another context, we followed yesterday the Italian Prime Minister Giuseppe Conte expressed that his country might start Gradually reduce some of the restrictions it imposed to contain the outbreak of corona by the end of this month, if the prevalence of the coronavirus continues to slow.

Conte said that his government would carefully choose the sectors that could resume its activities, if the spread of the dangerous virus slowed, explaining that his country would gradually relax some restrictions and not reduce the level of the ban, which boosted hopes that the deadly virus outbreak may have reached its peak, according to the latest figures issued by The World Health Organization has increased the number of cases of coronavirus to nearly 1.44 million and 85,711 people have died in 212 countries.

In another context, we also followed Wednesday, the European Union's chief commissioner, Michel Barnier, said that it had been agreed to speak with the British negotiator about Britain's exit file from the European Union, David Frost, next week to agree on the next round of trade negotiations between Brussels and London, while he touched on the fact that work The European Commission is continuing and that negotiations should continue despite the difficulty of the present time with the outbreak of corona.

On the other hand, the markets are looking to the US economy to reveal inflation data with the release of the consumer price index, which may reflect a 0.3% contraction versus 0.1% growth in February, while the core reading of the index may show a slowdown in growth to 0.1% versus 0.2% in February, the annual reading of the index may show a slowdown in growth to 1.6% versus 2.3%, as a substantial annual reading may show a slowdown in growth to 2.3% versus 2.4%.

This comes before we witness later in the day the speech of the members of the Federal Open Market Committee, President of the Cleveland Bank, Federal Reserve Loretta Mister, who is expected to talk about maintaining economic health during the crisis through satellites, and Deputy Governor of the Federal Reserve, Randall Carls, who is scheduled That talks about the banking system at the University of Utah also via satellite.

In the same context, we followed yesterday, Thursday, Federal Reserve Governor Jerome Powell about the state economy via satellites at the Brookings Institution, through which he noted that unemployment rates may rise strongly temporarily and that there will be entities that need direct financial support, while stating that the reserve The Fed has the ability to lend, but it does not have the ability to spend.

Powell also noted yesterday that there are signs that the recovery may be robust when it happens, while addressing the fact that market conditions have generally improved following measures taken by the Federal Reserve, and this came in the wake of his assertion that the Federal Reserve still has enough room to Take more action and stimulus to support the world's largest economy.

Powell's comments came hours after the Federal Reserve suddenly announced that additional $ 2.3 trillion in loans would be provided to support the economy and that it was working to provide assistance to all families and workers in American companies of all sizes, explaining that the debt of high-yielding companies would be purchased in addition to supporting government spending As well as the debts of small companies.

It is noteworthy that the Federal Reserve revealed last Wednesday the minutes of the Federal Open Market Committee meeting held on March 15th that surprising meeting, which was the second in less than two weeks after the previous surprise meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

Technical analysis

The euro against the dollar continues to rise to the outskirts of 1.0966, and it moves within an intraday bullish channel that may bear the price to breach the mentioned level and then return to the bullish corrective path, especially as the EMA50 provides positive support for the price.

On the other hand, the stochastic oscillator is showing a clear oversold sign that may constitute negative pressure that pushes the price to rebound down and resume the suggested bearish path in our recent reports.

Consequently, the discrepancy between technical factors makes us prefer stopping on neutral until we get a clearer signal for the next direction, noting that a breach of 1.0966 will push the price to visit the 1.1067 level as a next positive target, while a break of 1.0840 will reactivate the bearish trend scenario whose next targets are located at 1.0700 Then 1.0640.

The expected trading range for today is between 1.0840 support and 1.1040 resistance

Expected trend for today: It depends on the levels mentioned in the report

#HD

The stock is trading in the range of 365 and 135 moving averages directed downward. An ascending truncated pattern has formed. MACD shows a bearish divergence, Stochastic Oscillator signals overboughtness.

The #HD rate online: monitor the movement of shares in real time.

Trading recommendations:

Sell while a descending wave pattern is forming, where the wave (A) breaks through the inclined channel of the ascending pattern.

Stop loss beyond the price pivot zone of 206.00.

Target levels: 175.00; 155.00.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to prepare in connection with weekly gains against the US dollar amid the scarcity of economic data in the last sessions of the week by the Australian economy because of the Good Friday holiday and on the cusp of developments and economic data expected on Friday by the American economy, which includes talk Members of the Federal Open Market Committee.

At exactly 03:06 AM GMT, the Australian dollar pair declined against the US dollar by 0.01% to 0.6341 levels compared to the opening levels at 0.6340, after the pair achieved its highest level during the trading session at 0.6344, while achieving the lowest at 0.6313.

Investors are awaiting the release of the inflation data by the US economy with the release of the consumer price index, which may reflect a 0.3% contraction versus 0.1% growth in February, while a substantial reading of the same indicator may show a slowdown in growth to 0.1% versus 0.2% in February In February, the annual reading of the index may show a slowdown in growth to 1.6% versus 2.3%, and a substantial annual reading of the index may show a slowdown in growth to 2.3% versus 2.4%.

This comes before we witness later in the day the speech of the members of the Federal Open Market Committee, President of the Cleveland Bank, Federal Reserve Loretta Mister, who is expected to talk about maintaining economic health during the crisis through satellites, and Deputy Governor of the Federal Reserve, Randall Carls, who is scheduled That talks about the banking system at the University of Utah also via satellite.

In the same context, we followed yesterday, Thursday, Federal Reserve Governor Jerome Powell about the state economy via satellites at the Brookings Institution, through which he noted that unemployment rates may rise strongly temporarily and that there will be entities that need direct financial support, while stating that the reserve The Fed has the ability to lend, but it does not have the ability to spend.

Powell also noted yesterday that there are signs that the recovery may be robust when it happens, while addressing the fact that market conditions have generally improved following measures taken by the Federal Reserve, and this came in the wake of his assertion that the Federal Reserve still has enough room to Take more action and stimulus to support the world's largest economy.

Powell's comments came hours after the Federal Reserve suddenly announced that additional $ 2.3 trillion in loans would be provided to support the economy and that it was working to provide assistance to all families and workers in American companies of all sizes, explaining that the debt of high-yielding companies would be purchased in addition to supporting government spending As well as the debts of small companies.

It is noteworthy that the Federal Reserve revealed last Wednesday the minutes of the Federal Open Market Committee meeting held on March 15th that surprising meeting, which was the second in less than two weeks after the previous surprise meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The minutes of the meeting stated on Wednesday that the reduction decision is in effect from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities at least $ 200 billion per month, provided that Make these purchases at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage market.

Otherwise, yesterday we followed the director of the American National Institute of Allergy and Infectious Diseases and the medical advisor to US President Donald Trump, that the number of deaths in America due to the virus (COVID-19) may be much lower than previous expectations, and it is reported that Trump noted Wednesday that he would like America's economy was opened up by the "big bang", but the death toll from the Corona virus outbreak must be on the slope first.

Technical analysis

The Australian dollar pair against the US dollar resumed its positive trades significantly to move away from the 0.6236 level, reinforcing the expectations of the continuation of the expected bullish direction on the intraday and short term, and the path is open to achieving our expected goal at 0.6407, noting that breaching this level will extend the upside wave to reach 0.6685.

Therefore, the bullish scenario will remain effective with the support of SMA 50, indicating that stability above 0.6236 is important to achieve the suggested targets.

The expected trading range for today is between 0.6260 support and 0.6450 resistance

Expected trend for today: bullish.

AUDUSD

The pair remains in a short-term uptrend amid the more positive global market sentiment and hopes that the peak of the coronavirus pandemic is just around the corner. The pair is also supported by the recovery of economic activity in China after the pandemic, increased demand for commodity assets, the obvious weakness of the US dollar against the backdrop of the unprecedented stimulus measures by the Fed, as well as the recent decision of the RBA not to change interest rates.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are also moving in this zone.

Trading recommendations:

The pair may correct down to 0.6280. Buy it from this level if it does not hold above 0.6340 with a local target level of 0.6500.

AUDUSD rate online: monitor the movement of the pair in real time.

Analysis based on round-number levels, price channels and modified Elliott Waves

GBPUSD 

The 1.2480 resistance level is holding back the bulls. An ascending truncated H4 level pattern has formed. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness.

The GBPUSD rate online: monitor the movement of the pair in real time.

Trading recommendations:

Sell strictly as an ascending truncated pattern is forming on the H4 level by breaking through the inclined channel. Entry at the formation of a descending pattern.

Stop loss beyond the local maximum (1.2480).

Target levels: 1.2200 (close a part of the transaction and move to breakeven); 1.1976; 1.1711; 1.1445.

#KHC

A resistance level of 27.50 holds back the bulls. Stochastic Oscillator signals overboughtness, and a Bearish divergence has formed on Awesome Oscillator. The stock is trading in the range of the upper limit of the downward price channel.

Trading recommendations:

Sell below 27.00.

Stop loss: 27.50.

Target levels: 26.43; 25.47; 24.00.

The #KHC rate online: monitor the movement of the shares in real time.Введите сообщение

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from above since March 16 against the US dollar after the Reserve Bank of Australia revealed its semi-annual report to review financial stability and on the cusp of developments and economic data expected Thursday by the US economy These include the speech of Fed Governor Jerome Powell at the Brookings Institution in Washington.

At 02:32 am GMT, the Australian dollar pair declined against the US dollar by 0.32% to 0.5958 levels compared to the opening levels at 0.5977, after the pair achieved its lowest level during the trading session at 0.5941, while achieving the highest at 0.5984.

We have followed up on the Australian economy, the Australian Central Bank revealed its semi-annual report on the review of financial stability, which was presented through its analysis of the Reserve Bank of Australia's assessment of the conditions in the financial system and the potential risks of financial stability, and the report stated that Australia is in a good position to manage the increased financial risks from the outbreak Corona virus globally.

On the other hand, investors are currently looking to the US economy for the publication of the index of subsidy requests for the past week on the fourth of April, which may reflect a decline of 1,648 thousand applications to 5,000 thousand requests compared to 6,648 thousand requests in the previous weekly reading, and this comes in conjunction with the disclosure On reading the PPI, which is an initial indicator of inflation, which may reflect the contraction in contraction to 0.3% compared to 0.6% last February.

In the same context, the core PPI reading may show stability at zero levels versus a 0.3% contraction in the previous reading in February, while the annual PPI reading may show a slowdown in growth to 0.5% compared to 1.3% in the previous annual reading of February February, and the core annual reading of the same indicator may also reflect slowing growth to 1.2% from 1.4% in February.

This comes before we witness the disclosure of the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 75.0 compared to 89.1 in March, in conjunction with the release of the final reading of the wholesale inventory index, which may reflect the stability of the decline at 0.5% during January. Last January, also in conjunction with the anticipated speech by Federal Reserve Governor Jerome Powell about his country's satellite economy at the Brookings Institution.

It is noteworthy that the Federal Reserve revealed yesterday, Wednesday, the minutes of the Federal Open Market Committee meeting held on the 15th of March, that surprising meeting, which was the second in less than two weeks after the previous surprising meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The minutes of the meeting stated yesterday that the reduction decision is in effect from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, provided that Make these purchases at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage market.

In another context, we followed yesterday, Trump expressed that he would like to open his country's economy through the "big bang", but the death toll from the outbreak of the coronavirus must be on the slope first, and it is stated that he announced in advance the extension of the quarantine in America until the end of this month to reduce From the spread of Corona, according to the latest figures issued by the World Health Organization, the number of cases has increased to nearly 1,357 thousand, and 79,385 people have died in 212 countries.

Technical analysis

The Australian dollar versus the US dollar succeeded in achieving our first awaited target at 0.6236, and today begins with an upward tendency in an attempt to breach this level, which supports the chances of an extension of the upside wave during the coming period, awaiting the direction towards 0.6407 as the next main station.

Consequently, the bullish trend will remain likely in the intraday and short term, regular within the bullish channel that appears in the picture, noting that a break of 0.6097 will stop the positive scenario and put the price under negative pressure again.

The expected trading range for today is between 0.6150 support and 0.6340 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting up during the Asian session to witness its bounce for the second session in four sessions from the lowest since March 25 against the US dollar on the cusp of developments and economic data expected today by the economies of the euro area and the US economy, which includes the activities of meetings The Eurogroup and Fed Governor Jerome Powell speak at the Brookings Institution in Washington.

At 05:26 am GMT, the euro pair rose against the US dollar by 0.06% to 1.0865 levels compared to the opening levels at 1.0885 after the pair achieved its highest level during the trading session at 1.0880, while achieving the highest at 1.0854.

The market is looking for Germany, the largest economy in the eurozone, to publish the current account reading, which may reflect the widening of the surplus to 17.0 billion euros against 16.6 billion euros last January, in conjunction with the disclosure of the trade balance reading, which may also show the widening of the surplus to 16.5 billion euros, compared to 13.9 billion euros in January, amid expectations that exports will decline more than imports.

This comes before we witness the release of the industrial production reading for Italy, the third largest economy in the region, which may explain a 1.6% decline against a rise of 3.7% in January, and in conjunction with the activities of the Eurogroup meetings that enter on its third day and which are attended by the finance ministers of the member states in the region. The Commissioner for Economic and Monetary Affairs and the Governor of the European Central Bank, which discusses several financial issues such as mechanisms to support the euro and government funding.

It is noteworthy that the European Union finance ministers failed during their talks during their meetings to agree on further measures as part of efforts to support the economies of the euro area in the face of the repercussions of the outbreak of the Corona Virus. Behind the hindrance to progress in the talks and the lack of agreement to provide aid about half a trillion euros.

In another context, we also followed yesterday, the European Union's chief commissioner, Michel Barnier, said that it had been agreed to speak with the British negotiator about Britain's exit file from the European Union, David Frost, next week to agree on the next round of trade negotiations between Brussels and London, while he touched on the fact that work The European Commission is continuing and that negotiations should continue despite the difficulty of the present time with the outbreak of corona.

According to the latest developments in the global outbreak of the Corona virus, the Chinese city of Wuhan, where the coronary virus began appearing to last for more than two months, ended hopes that the deadly virus outbreak may have peaked, knowing that the European Union’s disease surveillance agency stated yesterday that the epidemic It still strikes and kills large numbers of people across the old continent.

On the other hand, investors are currently looking to the US economy for the publication of the index of subsidy requests for the past week on the fourth of April, which may reflect a decline of 1,648 thousand applications to 5,000 thousand requests compared to 6,648 thousand requests in the previous weekly reading, and this comes in conjunction with the disclosure On reading the PPI, which is an initial indicator of inflation, which may reflect the contraction in contraction to 0.3% compared to 0.6% last February.

In the same context, the core PPI reading may show stability at zero levels versus a 0.3% contraction in the previous reading in February, while the annual PPI reading may show a slowdown in growth to 0.5% compared to 1.3% in the previous annual reading of February February, and the core annual reading of the same indicator may also reflect slowing growth to 1.2% from 1.4% in February.

This comes before we witness the disclosure of the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 75.0 compared to 89.1 in March, in conjunction with the release of the final reading of the wholesale inventory index, which may reflect the stability of the decline at 0.5% during January. Last January, also in conjunction with the anticipated speech by Federal Reserve Governor Jerome Powell about his country's satellite economy at the Brookings Institution.

It is noteworthy that the Federal Reserve revealed yesterday, Wednesday, the minutes of the Federal Open Market Committee meeting held on the 15th of March, that surprising meeting, which was the second in less than two weeks after the previous surprising meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The minutes of the meeting stated yesterday that the reduction decision is in effect from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, provided that Make these purchases at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage market.

In another context, we followed yesterday, Trump expressed that he would like to open his country's economy through the "big bang", but the death toll from the outbreak of the coronavirus must be on the slope first, and it is stated that he announced in advance the extension of the quarantine in America until the end of this month to reduce From the spread of Corona, according to the latest figures issued by the World Health Organization, the number of cases has increased to nearly 1,357 thousand, and 79,385 people have died in 212 countries.

Technical analysis

The euro against the dollar fluctuates in a tight and sideways path since yesterday, and it moves near the 1.0840 level, where the moving average constitutes 50 continuous negative pressure against the price, waiting for the aforementioned level to open the way for the resumption of the descending path that targets 1.0700 then 1.0640 as the next main stations.

In general, the downside scenario will remain favorable for the coming period unless we witness a clear breach and stability above 1.0966.

The expected trading range for today is between 1.0750 support and 1.0950 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session amid the US dollar index rebounding for the second session in four sessions from its highest since March 26, according to the inverse relationship between them on the cusp of developments and economic data expected today Thursday by the American economy, which It included Federal Reserve Governor Jerome Powell's talk at the Brookings Institution in Washington via satellite and with market assessments of developments in the global corona virus outbreak.

At exactly 04:07 AM GMT, gold futures contracts for June delivery rose 0.24% to trade at $ 1,684.50 per ounce compared to the opening at $ 1,680.50 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday's trading was concluded At $ 1,684.30 an ounce, with the US dollar index down 0.03% to 100.09 compared to the opening at 100.12.

Investors are currently looking to the US economy for the release of the aid requests index for the last week on the fourth of April, which may reflect a decline of 1,648 thousand applications to 5,000 thousand applications compared to 6,648 thousand requests in the previous weekly reading, and this comes in conjunction with the disclosure of the index reading Producer prices, which is an initial indication of inflation, may reflect the contraction in the contraction to 0.3%, compared to 0.6% last February.

In the same context, the core PPI reading may show stability at zero levels versus a 0.3% contraction in the previous reading in February, while the annual PPI reading may show a slowdown in growth to 0.5% compared to 1.3% in the previous annual reading of February February, and the core annual reading of the same indicator may also reflect slowing growth to 1.2% from 1.4% in February.

This comes before we witness the disclosure of the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 75.0 compared to 89.1 in March, in conjunction with the release of the final reading of the wholesale inventory index, which may reflect the stability of the decline at 0.5% during January. Last January, also in conjunction with the anticipated speech by Federal Reserve Governor Jerome Powell about his country's satellite economy at the Brookings Institution.

It is noteworthy that the Federal Reserve revealed yesterday, Wednesday, the minutes of the Federal Open Market Committee meeting held on the 15th of March, that surprising meeting, which was the second in less than two weeks after the previous surprising meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The minutes of the meeting, Anas, reported on Wednesday that the reduction decision is in effect from March 16, and that the Federal Open Market Committee will carry out repurchases of treasury bonds with a minimum of $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, provided that These purchases are made at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage markets.

The minutes also reported that the Federal Committee went forward with conducting forward and night repurchase agreements to ensure that the supply of reserves remains ample and support the smooth performance of the dollar financing markets in the short term. It continues to grow despite rapid developments and that the Corona virus has a clear impact on the US and global economy.

Technical analysis

The gold price did not show any strong movement in the previous sessions, to continue to fluctuate near the level of 1644.20, maintaining its stability above it, and therefore, our expectations for the upward trend will remain unchanged, supported by the positivity of the Stochastic and the moving average 50, while recalling that our next main target is at 1703.25 , While achieving it requires stability above 1644.20.

The expected trading range for today is between 1635.00 support and 1680.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce to the fifth session in seven sessions from the lowest since March 18 against the Japanese yen after the speech of the Japanese Central Bank Governor Haruhiko Kuroda at the meeting of the directors of the BoJ branches in Tokyo and on the cusp of developments The economic data expected today by the US economy, which includes the speech of Federal Reserve Governor Jerome Powell at the Brookings Institution in Washington via satellite.

At exactly 05:50 am GMT, the US dollar pair rose against the Japanese yen by 0.09% to 108.93 levels compared to the opening levels at 108.83, after the pair achieved its highest level during the trading session at 109.06, while achieving the lowest at 108.82.

We have followed a short while ago, the Governor of the Bank of Japan, Haruhiko Kuroda, expressed at the meeting of the directors of the Bank of Japan’s branches in Tokyo that the Bank of Japan will not hesitate to expand facilitation if necessary, with his consideration of the fact that economic ambiguity is very high, and that epidemics have a serious impact on the Japanese economy. He pointed out that the outbreak of the Corona virus has a severe impact on his country's economy through exports, outputs, domestic tourism in addition to stagnant consumption.

It is reported that Japanese Prime Minister Shinzo Abe declared last Tuesday a state of emergency in the Japanese capital Tokyo and in Osaka in addition to five other cities, explaining that seven cities will be subject to the state of emergency for a month, with his statement that his government will work to ensure the continuation of economic activity as possible and that it is working in At the moment, a stimulus package of 108 trillion yen ($ 990 billion) has been approved.

On the other hand, investors are currently looking to the US economy for the publication of the index of subsidy requests for the past week on the fourth of April, which may reflect a decline of 1,648 thousand applications to 5,000 thousand requests compared to 6,648 thousand requests in the previous weekly reading, and this comes in conjunction with the disclosure On reading the PPI, which is an initial indicator of inflation, which may reflect the contraction in contraction to 0.3% compared to 0.6% last February.

In the same context, the core PPI reading may show stability at zero levels versus a 0.3% contraction in the previous reading in February, while the annual PPI reading may show a slowdown in growth to 0.5% compared to 1.3% in the previous annual reading of February February, and the core annual reading of the same indicator may also reflect slowing growth to 1.2% from 1.4% in February.

This comes before we witness the disclosure of the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 75.0 compared to 89.1 in March, in conjunction with the release of the final reading of the wholesale inventory index, which may reflect the stability of the decline at 0.5% during January. Last January, also in conjunction with the anticipated speech by Federal Reserve Governor Jerome Powell about his country's satellite economy at the Brookings Institution.

It is noteworthy that the Federal Reserve revealed yesterday, Wednesday, the minutes of the Federal Open Market Committee meeting held on the 15th of March, that surprising meeting, which was the second in less than two weeks after the previous surprising meeting on the third of the same month, which approved the monetary policy makers at The Federal Reserve returns short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The minutes of the meeting stated yesterday that the reduction decision is in effect from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, provided that Make these purchases at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage market.

In another context, we followed yesterday, Trump expressed that he would like to open his country's economy through the "big bang", but the death toll from the outbreak of the coronavirus must be on the slope first, and it is stated that he announced in advance the extension of the quarantine in America until the end of this month to reduce From the spread of Corona, according to the latest figures issued by the World Health Organization, the number of cases has increased to nearly 1,357 thousand, and 79,385 people have died in 212 countries.

According to the latest developments in the global outbreak of the Corona virus, the Chinese city of Wuhan, where the coronary virus began appearing to last for more than two months, ended hopes that the deadly virus outbreak may have peaked, knowing that the European Union’s disease surveillance agency stated yesterday that the epidemic It still strikes and kills large numbers of people across the old continent.

Technical analysis

The narrow range dominates the trading of the dollar pair against the yen, which maintains its stability below 109.20 level, noting that the stochastic indicator starts providing a negative crossover on the daily time frame, which supports the chances of resuming the expected bearish direction in the intraday and short term, whose targets begin at 107.68 It extends to 106.44 after breaking the previous level.

On the other hand, it should be noted that a break of 109.20 will push the price to test 111.10 areas before any new attempt to decline.

The expected trading range for today is between 107.70 support and 109.50 resistance.

Expected trend for today: Overall decline.