UK GDP a reminder of the price of lockdown
The UK is within the strategy of easing restrictions this week, with new guidelines round train, and leisure coming into drive in the present day, a transfer that has been met with blended emotions unsurprisingly. The percentages of broad settlement in these unprecedented time are slim to none. The timing of the GDP knowledge this morning is due to this fact a well timed reminder of the injury the lockdown is having and it was solely in place for the ultimate week of March.
And already the tales are beginning to emerge relating to how the federal government plans to pay for all of this financial assist, estimated to be £300 billion this yr, with studies of tax hikes, freezes to pay and extra. The top of austerity didn’t final very lengthy.
Hesitancy probably creeping in forward of WTI expiry
Oil costs are just a little flat in the present day. Lower than every week to go till the June contract expiry and maybe it’s making merchants just a little nervous and extra hesitate about becoming a member of the good rebound. A repeat of final month seems unlikely at this level however then, did it this time a month in the past? It is going to be attention-grabbing to see how this unfolds.
Nothing new to report on gold
I’m tempted to repeat and paste my gold feedback from a day or two in the past as there’s little or no completely different to report. Gold is currenly buying and selling barely above $1,700 slightly than barely under which is progress, I assume. Nothing has basically modified although and consolidation continues to be clear for all to see. Maybe given the tight ranges, a breakout is nearly upon us however possibly that’s extra a case of me wishing for it than the rest.
Bitcoin settled in center of halving hype vary
Bitcoin is buying and selling in the midst of its halving hype vary, sitting round $9,000 this morning. There isn’t an excessive amount of to debate on this in the mean time. The decrease finish of this vary arguably seems the extra susceptible however that’s not clear proper now and it may merely settle into this $8,000-10,000 vary for some time.
For a have a look at all of in the present day’s financial occasions, take a look at our financial calendar.
This text was written by Craig Erlam Senior Forex Analyst at OANDA.
This text is for normal info functions solely. It’s not funding recommendation or an answer to purchase or promote securities. Opinions are the authors; not essentially that of OANDA Company or any of its associates, subsidiaries, officers or administrators. Leveraged buying and selling is excessive danger and never appropriate for all. You could possibly lose all your deposited funds.