In addition to the crude oil market, what new trends have emerged in the foreign exchange market and the stock market? Aide Securities Futures expert team takes you to watch together!
Editor’s note: This article is from “Aide Securities Futures” < / a>, author Aide Securities Futures Research Department.
Weekly views | Crude oil futures soared negative, what are the new trends in the stock market and foreign exchange market?
This week, the crude oil market is turbulent, which can be said to have attracted attention. The WTI crude oil futures May contract closed on Monday (April 20) and fell more than 300%. USD 37.63 / barrel, closed at a negative value for the first time in history. As of press time, the May contract of WTI crude oil futures has been delivered. In addition to the crude oil market, what new trends have emerged in the foreign exchange market and the stock market? Aide Securities Futures expert team takes you to watch together!
April 21st, Toutiao Daily-“Foreign Exchange Strategy-US Dollar Index Continues to Consolidate”
Chen Jianhao, Managing Director of Ade Securities Futures: The exchange rate of Euro (and “Euro”) against the US dollar has not changed significantly and is still hovering at the level of 1.08. Technically, the euro against the US dollar has experienced a major ups and downs since February, and it once rose sharply from the level of 1.07 to nearly 1.15, but with the outbreak of the dollar, the euro against the dollar once fell to the level of 1.06. The volatility of the Romanian dollar has begun to narrow, and a technically narrowing triangle has yet to change. The Euro-dollar has only hovered between 1.0770 and 1.0990 in the past few weeks. Because of the market ’s interest in knowing how bad the US economy is this week, On the contrary, I think the US dollar index has room to retest the 98 level, which seems to favor the Euro to rebound against the US dollar first. Once the Euro against the US dollar closes at the end of the month, it can return to the market between 1.1030 and 1.1200, and a positive pattern may appear on the monthly chart. Therefore, even if the European economy is still bad, the absorption of the Euro from the price point has a certain value. As long as the market is still interested in speculating on the adverse economic factors such as the poor US economy and unlimited QE, the short-term dollar will remain under pressure. Of course, under such market conditions, the market still hopes that once the risk aversion comes again, the US dollar will still benefit. Therefore, the mid-line view of the US dollar index 98 level still has a certain defensive power, currently only hovering at 98 to 101 levels. 』