SUMMARY

  • According to the CEO of Vitol, the world’s largest commodities trader, oil demand will reach its highest level in 2030 because the energy transition is currently slow.
  • US quarterly GDP increased by 3.2%, while the market expected growth of +3.3%. Following this result, the Dow Jones closed yesterday with a decrease of -0.06%.
  • The Swiss army will be part of the European air defense program. On the other hand, the country’s Secretary of State indicated that the Swiss economy maintains continuity according to an ideal model.
  • The price of Bitcoin managed to rise to $63,000, after the asset approached the halving, where the available supply of Bitcoins will decrease significantly.

WTI

Specifications

  • Leverage: 50
  • Units: 1.000
  • Margin requirement: USD$1,519
  • Example: USD$1 change in WTI price = USD1000 potential PL.
  • Support 1: 78,25
  • Support 2: 78,05
  • Resistance 1: 78,57
  • Resistance 2: 78,69

Fundamental Analysis

  • According to the CEO of Vitol, the world’s largest commodities trader, oil demand will reach its highest level in 2030 because the energy transition is currently slow.
  • The US military launched 230 strikes against Houthi targets in the Red Sea.
  • Russian oil shipments to China use other sea routes to avoid crossing the Red Sea.
  • The Houthis attacked maritime Internet infrastructure in the Red Sea.
  • According to the EIA, US oil reserves increased by 4.19 million barrels. At Cushing, stocks increased by 1.45 million barrels.
  • Despite rising stocks and market supply, the price continues its upward trend, driven by rising tensions in the Red Sea. At the moment, the price of WTI corrects -0.19%, but remains around $78.39 per barrel. The price remains above the 40-day moving average.

Dow Jones

Specifications

  • Leverage: 50
  • Units: 1
  • Margin requirement: USD$782
  • Example: movement of 100 points = $1,000 potential PL.
  • Support 1: 38.938
  • Support 2: 38.925
  • Resistance 1: 38.960
  • Resistance 2: 38.969

Fundamental Analysis

  • US quarterly GDP increased by 3.2%, while the market expected growth of +3.3%. Following this result, the Dow Jones closed yesterday with a decrease of -0.06%. It is currently correcting -0.05% and is trading at 38,972 points.
  • Traders pay attention to the personal consumption expenditures price indicator, which the Federal Reserve analyzes, because it is similar to inflation. This figure is expected to reach 2.4% annually, two basis points less than the previous 2.6%. If the result is less than 2.4%, a recovery in the stock indices could be evident.
  • In the United States, new claims for unemployment benefits are expected to reach 209,000, up from 201,000 in the previous report. It is also an indicator closely followed by economists, because it can indicate a slowdown in the economy.
  • The Dow is trading above the 40-day moving average, seeking to enter the resistance zone, key to rising towards 40,000 points.

USDCHF

Specifications

  • Leverage: 100
  • Units: 100,000
  • Margin requirement: USD$999
  • Example: movement of 100 pips = $1,000 potential PL.
  • Support 1: 0,8778
  • Support 2: 0,8776
  • Resistance 1: 0,8785
  • Resistance 2: 0,8790

Fundamental Analysis

  • The Swiss army will be part of the European air defense program. On the other hand, the country’s Secretary of State indicated that the Swiss economy maintains continuity according to an ideal model. Currently, USDCHF is sideways above the 0.8785 area. However, the coin lost the 0.8800 zone.
  • The Swiss Parliament has announced aid of several million Swiss francs to protect and safeguard the Schengen borders.
  • UBS, Switzerland’s largest investment bank, plans to sell the Investment Banking division of Credit Suisse, located in Turkey. UBS seeks to obtain liquidity from assets that are not linked to its business model.
  • Swisscom is in talks to acquire Vodafone Italia, valued at €8 billion.
  • The coin is below the 40-day moving average. However, it is at the inflection point where the trend could change.

SOURCES

  • Thomson Reuters
  • Market watch
  • Bloomberg
  • Tradingview

 

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