31FX – The main focus will once again be on U.S. labor market, with Thursday’s initial jobless claims report, which has already shown an unprecedented jump of around 10 million over the past two weeks.
Oil prices look set to crater again on Monday as the price war between Saudi Arabia and Russia intensifies. Meanwhile, Wednesday’s Federal Reserve meeting minutes may give some insight into the mindset of policymakers as they delivered emergency rate cuts.
Trump Warns For a Big Spike in Fatalities
Trump has told Americans to brace for a big spike in coronavirus fatalities in the coming days, as the country faces what he called the toughest two weeks of the pandemic.
Oil Set To Crater As OPEC+ Meeting Postponed
Oil price fluctuations have added an extra layer of complication to the coronavirus related market turbulence, crashing 70% from January highs before bouncing on Trump’s claim to have brokered a Saudi-Russia deal to cut output.
Jobless Claims Set To Surge Again
Jobless claims have surged to record levels in the past two weeks, as containment measures to try and slow the spread of coronavirus mean shutdowns are becoming widespread across the U.S. As a result, companies are increasingly shutting their doors and laying-off staff.
The Fed is to publish what will be closely watched meeting minutes on Wednesday, which investors expect to outline details on the decisions to deliver emergency rate cuts and inject waves of stimulus into the economy.
Eurozone to Debate Coronabonds
Euro zone finance ministry officials are to hold discussions this week about how best to aid poorer states buckling under the coronavirus strain. It’s safe to say a solution that satisfies everyone won’t come by the April 9 deadline.