Financial Calendar
April 30 (Tuesday) Schedule of Data and Financial Events (Beijing Time)
07:30 Japan's Unemployment Rate for March
09:30 China's Official Manufacturing PMI for April
09:45 China's Caixin Manufacturing PMI for April
13:30 France's GDP Growth Rate for Q1 - Preliminary
14:45 France's CPI for April - Monthly
15:00 Switzerland's KOF Leading Indicators for April
15:55 Germany's Adjusted Unemployment Figures for April
Germany's Adjusted Unemployment Rate for April
16:00 Germany's Unadjusted GDP Growth Rate for Q1 - Preliminary
16:30 UK's Bank Mortgage Approvals for March
17:00 Eurozone CPI for April - Preliminary Annual and Monthly Rate
Eurozone GDP Growth Rate for Q1 - Preliminary
18:00 Japan's Government to Announce Monthly Forex Intervention Data
20:30 Canada's GDP for February - Monthly Rate
US Q1 Labor Cost Index - Quarterly
21:00 US FHFA House Price Index for February - Monthly Rate
US S&P/CS20 City HPI for February - Annual Rate
21:45 US Chicago PMI for April
22:00 US Consumer Confidence Index for April by the Conference Board
May 1
04:30 US API Crude Oil Stock for the Week Ending April 26
Market Review
On Monday, the US Treasury Department raised this quarter's borrowing forecast to $243 billion, exceeding market predictions. Concerns over a slowdown in US economic growth led to a fluctuating decline in the US dollar index, which finally closed at 105.64.
Today's Focus
US Dollar Index: The market continues to oscillate within the 105.4-106 range, expecting narrow fluctuations in the short term. If it fails to break above 106 today, anticipate a potential decline, keeping an eye on the trend not falling below 105, as the upward trend may continue.
EUR/USD: After a day of narrow fluctuation, focus turns to the Eurozone CPI release today, watching for the potential emergence of a short-term trend. The immediate resistance stands near the peak around 1.075, with another resistance structure around the 1.08 mark. If the price does not move upward, consider a short position.
GBP/USD: The price currently fluctuates within the 1.254-1.258 range, representing a reversal zone from past trends. Should the price not breach this area, a downward movement is anticipated, with a look out for trading opportunities following a K-reversal pattern today. If it breaks upwards, observe resistance at the 1.266-1.27 range for a potential short.
USD/JPY: After revisiting the 154.5-155 zone yesterday and then climbing, the bullish sentiment in the short term remains. Now, the focus is on a break above 157 to form a double bottom pattern followed by a decline for a chance to enter a long position. The short-term resistance at the 160 mark remains crucial.
AUD/USD: After briefly breaking above 0.656 and then declining, today's focus is on how the price behaves around this resistance level. A pullback below this level suggests an opportunity to resume short positions, while a breakout and steady position above suggest a potential test of the 0.664 resistance.
USD/CAD: Following a retest of the 1.363-1.365 support zone yesterday with an upward move, today's focus remains on this short-term support. A rebound without breaking below suggests a short-long strategy. The resistance at 1.372-1.374 should be watched for potential short positions if not breached afterward.
Crude Oil: The price continues its broad fluctuation, now nearing the lower end of its range. Attention is on the price behavior below $82, with potential short-long positions if a reversal pattern emerges, setting a stop loss below the previous low of $80.7. With no clear short-term trend, the strategy revolves around selling high and buying low.
Gold: The price is caught in high-level fluctuations, with a short-term pivot around the 2330 mark. Should today's price not break below this level, it's viable to continue short-long positions, with immediate resistance between 2360-2370. Should the price not breach this resistance soon, consider short positions.
S&P Index: The price approaches a resistance zone, suggesting a possible exit for prior long positions within the 5140-5160 area if not breached. Upon reaching this level, observe for a K-reversal pattern, and aggressive traders could short on a reversal, while conservative traders might wait for further declines to enter long positions again.
Bitcoin: The price stabilizes and climbs within the 62000-62500 zone, continuing its choppy upward trend. Immediate resistance remains unaltered at 66000, at which taking profits on long positions is advisable. Aggressive traders can short on a reversal below 67300, whereas conservative traders might consider short positions above the significant 70000 mark in anticipation of higher-level market fluctuations. No clear short-term continuation opportunities present themselves, with major trading decisions awaiting future trend confirmations.
