India’s new coronavirus infections hit a record peak for a fifth day on Monday as countries including Britain, Germany and the United States pledged to send urgent medical aid to fight the crisis overwhelming its hospitals.
Infections in the past 24 hours rose to 352,991, with overcrowded hospitals in Delhi and elsewhere turning away patients after running out of supplies of medical oxygen and beds.
With this in mind, the Indian market is likely to open on a flat note on Monday.
For the US, durable goods and core durable goods orders along with consumer confidence figures are due out early in the week.
Expect core durable goods and the consumer confidence index figures to have the greatest influence on the USD.
On Thursday, the focus will shift to 1st quarter US GDP and jobless claims figures.
While the jobless claims figures will influence, expect the GDP numbers to be key on the day.
At the end of the week, personal spending and the FED’s preferred Core PCE Price index figures will be in focus.
On the monetary policy front, the FED is also in action on Wednesday. With the markets expecting the FED to stand put on policy, the rate statement will be the main area of focus.
The earnings parade rolls on this week as dozens of names including Tesla, Microsoft, Alphabet, Apple, Amazon, Facebook, Twitter, Ford, Starbucks and Boeing are set to report quarterly results.
OPEC+ will meet on Wednesday following the group’s decision to begin easing oil production cuts of about 7 million barrels per day. Saudi Arabia reportedly said it was phasing out its extra voluntary cuts by July, a move that will add 1 million bpd over the next three months.
President Joe Biden will also address a joint session of Congress for the first time since taking office marking his first 100 days.
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Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.
Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.00% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.
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