Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

New contracts will automatically be rolled over as follows:

Please note:

• The rollover will be automatic, and any existing open positions will remain open.

• Positions that are open on the expiration date will be adjusted via a rollover charge or credit to reflect the price difference between the expiring and new contracts.

• To avoid CFD rollovers, clients can choose to close any open CFD positions prior to the expiration date.

• Please ensure that all take-profit and stop-loss settings are adjusted before the rollover occurs.

• All internal transfers for accounts under the same name will be prohibited during the first and last 30 minutes of the trading hours on the rollover dates.

If you’d like more information, please don’t hesitate to contact [email protected].

On a day marked by cautious trading, stock markets ended with marginal changes as investors weighed the impact of rising Treasury yields against the backdrop of impending U.S. inflation data, with Tesla’s stock standing out after an upbeat announcement from CEO Elon Musk. In currency markets, the U.S. Dollar resumed its downward trajectory, influenced by anticipation ahead of key economic reports, while the EUR/USD and GBP/USD pairs gained ground. Commodities saw mixed fortunes, as crude oil prices dipped due to easing geopolitical concerns, whereas gold and silver prices soared, reaching new highs amidst the dollar’s weakness and investors’ hunt for safe-haven assets. This confluence of events reflects a global financial landscape bracing for significant economic indicators and central bank actions that could reshape market dynamics in the near term.

Stock market updates

Stocks closed with minimal changes on Monday as an increase in Treasury yields held investors back from making significant moves, awaiting crucial U.S. inflation data. The Dow Jones Industrial Average slightly fell by 11.24 points or 0.03% to settle at 38,892.80, while the S&P 500 dipped by 0.04%, ending the day at 5,202.39. On the other hand, the Nasdaq Composite saw a slight increase of 0.03%, closing at 16,253.96. Tesla’s shares surged 4.9% following CEO Elon Musk’s announcement of a robotaxi reveal in early August, highlighting a noteworthy move in the market amidst a general state of anticipation.

The increase in Treasury yields acted as a barrier to significant market gains, with the benchmark 10-year Treasury note yield climbing about 4 basis points to 4.42%. Investors are keenly awaiting the March consumer and producer price indexes due later this week to gauge the effectiveness of the Federal Reserve’s efforts to combat inflation. The anticipated CPI figure, expected to rise by 0.3% last month, is particularly under scrutiny for indications on when the Fed might start reducing interest rates, stirring speculations and strategies among market participants.

Despite the subdued market movements, optimism remains tied to the broader economic outlook, especially after a stronger-than-expected jobs report last Friday. The report spurred hopes for sustained corporate earnings growth amidst a robust economy, despite the potential for enduring higher interest rates. This hope comes after both the Dow and S&P 500 experienced notable weekly losses, marking a period of cautious investor sentiment as they navigate through the implications of economic data and Federal Reserve policies on the market’s future direction.

Currency market updates

The U.S. Dollar resumed its downtrend at the start of the week amid rising anticipation for several key U.S. economic reports due later in the week, including the NFIB Business Optimism Index and the RCM/TIPP Economic Optimism Index, among others. The EUR/USD pair showed strength, rebounding from Friday’s dip to touch the 1.0860 area again. Similarly, the GBP/USD pair advanced to two-day highs near 1.2660, buoyed by risk sentiment and ahead of the BRC Retail Sales Monitor report. Meanwhile, the USD/JPY pair saw a modest increase but struggled to breach the significant 152.00 level, with market participants also eyeing upcoming consumer confidence and machine tool orders data from Japan.

The Australian Dollar made gains against the weakening U.S. Dollar, pushing past the 0.6600 mark and reaching two-day highs as traders anticipated domestic consumer confidence indexes. This movement in currency pairs comes amid a backdrop of cautious trading ahead of substantial economic indicators and central bank communications, including a scheduled speech by Minneapolis Fed President N. Kashkari, all of which could significantly influence market sentiment and currency valuations.

In commodities, crude oil prices faced another day of declines amid diminished geopolitical tensions, affecting market dynamics. Conversely, gold prices maintained their upward trajectory, reaching new all-time highs past $2,350, while silver prices also surged, surpassing the $28.00 per ounce mark for the first time since mid-June 2021. These movements in precious metals and energy commodities reflect the broader market’s response to fluctuating economic indicators, geopolitical developments, and the overarching trend of dollar weakness, all contributing to the complex interplay of forces shaping the currency markets.

Picks of the day analysis

EUR/USD (4 Hours)

EUR/USD rises amidst diverging central bank strategies and economic outlooks

The EUR/USD pair experienced a notable increase, touching the 1.0860 mark, driven by a downturn in the US Dollar alongside positive movements in both US and German yields, all against a backdrop of unchanged monetary policies. As both the Federal Reserve (Fed) and the European Central Bank (ECB) gear up for expected easing cycles starting in June, differences in the pace of interest rate cuts may lead to divergent central bank strategies. Despite a potential initial alignment in easing measures, the medium-term outlook suggests a stronger Dollar, influenced by more robust fundamentals in the US compared to the eurozone. This scenario positions the EUR/USD for a possible downward adjustment, initially aiming for its year-to-date low around 1.0700, with further potential declines beneath the 1.0500 level.

Chart EUR/USD by TradingView

On Monday, the EUR/USD moved higher trying to reach the upper band of the Bollinger Bands. Currently, the price is moving in the middle between the middle and upper band, suggesting a potential slight downward movement to reach the middle band before going back higher. Notably, the Relative Strength Index (RSI) maintains its position at 57, signaling a neutral but bullish outlook for this currency pair.

Resistance: 1.0858, 1.0911

Support: 1.0785, 1.0723

Sydney, Australia, 9 April, 2024 – Global multi-asset broker VT Markets is hosting its most significant event to date—an exclusive three-day gathering in Monaco, the home ground of their key partner, Formula E team, Maserati MSG Racing.

Taking place from 25^th to 27^th April, select VIP guests, partners and media are invited for exclusive experiences including a media event, exquisite private yachting along the Monegasque coast, and thrilling views of the Formula E race.

The media event will feature keynote addresses from representatives of both VT Markets and Maserati MSG Racing. Attendees will have the unique opportunity to gain invaluable insights into the future of trading, the partnership story and significance of both companies’ shared dedication to seizing opportunities and driving progress.

“We look forward to a challenging yet fruitful 2024, as we increase our global footprint, bringing with us opportunity and excellence that we strive to provide,” remarked Ludovic Moncla, Head of Affiliates, VT Markets, who will be speaking at the event. “”In addition to our recent approval as a member of the Financial Commission, this initiative underscores our ongoing commitment to enhancing the client experience, with further enhancements on the horizon.” “We firmly believe that our partnership with VT Markets will unlock exciting opportunities for both brands,” said a spokesperson for Maserati MSG Racing. “By aligning our shared values of innovation and performance, we are confident in our ability to reach new audiences and achieve greater success together.”

Attendees can expect engaging discussions, networking opportunities, and exclusive insights into the future of trading. To learn more about this event please visit the VT Markets Events website (https://www.vtmarkets.com/company/about-us/events/). Members of the press or media who would like access or further information to cover the event may contact [email protected].

About VT Markets:

VT Markets is a regulated multi-asset broker with a presence in over 160 countries. To date, it has won numerous international accolades including Best Customer Service and Fastest Growing Broker.

In line with its mission to make trading accessible to all, VT Markets currently offers unfettered access to over 1,000 financial instruments and a seamless trading experience via its award-winning mobile app.

For more information, please visit the official VT Markets website or email us at [email protected]. Alternatively, follow VT Markets on Facebook, Instagram, or LinkedIn.

For media enquiries and sponsorship opportunities, please email [email protected].

Dear Client,

Starting from April 12, 2024, the trading hours of some MT4/MT5 products will change due to the Daylight Saving Time change in the EU/UK.

Please refer to the table below outlining the affected instruments:

The above information is provided for reference only; please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

CURRENCIES:

Upcoming Market Highlights: Focus on Gold, US Dollar, Euro, Pound Sterling.

Key Events This Week: US CPI data, central bank decisions in Canada, New Zealand, and the EU, and FOMC March meeting minutes.

Actionable Insights: Access the guide for top trading opportunities in Q2.

US Dollar Analysis: Awaiting CPI data, recent NFP surge had temporary effect.

Gold’s Value: Influenced by Middle East tensions, balancing strong US yields and safe haven demand.

Market Dynamics: Potential shift in treasury pricing, impacting gold’s attractiveness.

Geopolitical Impact: Eastern Europe and Middle East tensions boost gold’s safe haven appeal, yet market could stabilize without further conflicts.

Inflation Watch: Focus on the March Consumer Price Index release for potential trend insights.

STOCK MARKET:

Q1 Earnings Season: Begins with reports from Delta, JPMorgan, Wells Fargo, BlackRock, and Citi.

Stock Market Overview: Recent losses influenced by Middle East tensions, oil price spikes, and Federal Reserve rate cut speculations.

Federal Reserve Outlook: Discussions lean towards fewer rate cuts or maintaining current rates.

Labor Market Analysis: Resilience may impact Federal Reserve’s rate decisions, with wage growth not necessarily driving inflation.

Sector-Specific Earnings: Attention on whether earnings growth extends beyond the technology sector, indicating a broader market rally.

Financial Forecasts: Wall Street anticipates S&P 500 companies to show a 3.2% growth in Q1 and a 10.9% increase for the full year.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

As we approach the second week of April 2024, financial markets and policymakers around the globe are bracing for a series of critical economic reports and central bank decisions. These events are expected to offer valuable insights into the ongoing economic recovery efforts, inflationary pressures, and future monetary policy directions. Here’s a day-by-day breakdown of what to anticipate:

Reserve Bank of New Zealand holds firm

On 10 April 2024, the Reserve Bank of New Zealand (RBNZ) made headlines by maintaining its official cash rate (OCR) at 5.5% during its first policy meeting of the year. This decision marked the fifth consecutive meeting without a change in the rate, signalling a cautious stance by the RBNZ amidst economic uncertainties. Analysts are already looking ahead, predicting the OCR to remain at 5.5% following the upcoming meeting, reflecting a steady approach to monetary policy.

U.S. inflation trends upward

In a surprising turn, the annual inflation rate in the United States nudged up to 3.2% in February 2024 from 3.1% in January. This incremental rise, though slight, has caught the attention of market watchers who now forecast a further increase to 3.4% for March. The data, expected to be released on 10 April 2024, will be pivotal for future Federal Reserve decisions.

Bank of Canada’s rate decision

The Bank of Canada, on its part, held its overnight rate target steady at 5% during its March meeting. The bank’s commitment to normalising its balance sheet, despite inflationary concerns, suggests a cautious optimism. Analysts anticipate this trend to continue, with expectations set for the interest rate to remain at 5% in the Bank of Canada’s next meeting.

Federal Reserve and ECB stance

Minutes from the Federal Reserve’s meeting, expected on 11 April 2024, will be closely scrutinised. With the fed funds rate holding steady at a 23-year peak of 5.25%-5.5%, the Federal Reserve’s projections for future rate cuts will be of significant interest. Similarly, the European Central Bank (ECB), which has kept interest rates at historically high levels, faces its own set of challenges balancing recession risks with inflation. Analysts foresee the ECB maintaining its current interest rate levels at 4.5% in its forthcoming meeting.

Upcoming economic data

Additionally, the release of the U.S. Producer Price Index (PPI) on 11 April will offer insights into wholesale price movements, having risen by 0.6% in February. Expectations for March are set at a more modest 0.3% increase. The UK’s GDP data, expected on 12 April, will also be pivotal. After a modest expansion of 0.2% in January, forecasts for February suggest a slight increase of 0.1%, indicating a cautious yet positive economic trajectory.

In summary, the coming week promises a wealth of information for economists, investors, and policymakers alike. With each announcement, the global economic picture for 2024 will become clearer, highlighting the delicate balance central banks are striking between fostering economic growth and managing inflationary pressures.

CURRENCIES:

EUR/USD and Oil Breakout Potential: Awaiting a breakout above Fibonacci resistance levels for bullish trend continuation.

Popular Strategy: Breakout trading aims to capitalize on significant price movements beyond established price boundaries.

Breakout Significance: Indicates strong buying or selling activity, hinting at a market sentiment shift and potential new or continuing trends.

Breakout Trading Essentials:

• Initiate trades post-breakout to leverage momentum.
• Place orders beyond support/resistance levels for confirmation.
• Employ stop-loss to minimize risks from false breakouts.
• Set profit targets based on technical analysis projections.

Key Breakout Observations:

• Typically accompanied by increased trading volume.
• Risk management is crucial due to the possibility of false breakouts.
• Can signify the beginning of a new trend or continuation of an ongoing one.

Current Focus: Monitoring EUR/USD and oil (WTI futures) for potential breakout opportunities.

STOCK MARKET:

March Jobs Report Overview:

• Expected to reveal a slowdown in hiring.

• Anticipated decrease in unemployment rate to 3.8%.

Publication Details:

• Reported by Josh Schafer on April 4, 2024, at 10:50 PM GMT+3.

Market Context:

• Follows two months of strong job gains, surprising Wall Street.

• Bureau of Labor Statistics to release the report at 8:30 a.m. ET, Friday.

Key Figures:

• Nonfarm payrolls anticipated at +213,000 (down from +275,000 previously).

• Unemployment rate projected to drop to 3.8% (from 3.9%).

• Monthly average hourly earnings increase expected at +0.3% (up from +0.1%).

• Annual average hourly earnings growth forecast at +4.1% (down from +4.3%).

• Average weekly hours worked predicted to remain steady at 34.3.

Economic Implications:

• The report is crucial for gauging labor market strength and potential Federal Reserve policy shifts.

• Jerome Powell highlighted the labor market’s robust yet rebalancing nature.

Recent Labor Market Data:

• Job Openings and Labor Turnover Survey (JOLTS) and ADP report indicate a resilient labor market.
• Slight increase in job openings and hires observed in February.

Wage Growth Focus:

• Economists are closely monitoring wage growth as an indicator of potential inflation trends.
• March’s expected slowdown in wage growth aligns with a cooling but stable labor market.
• Investor Sentiment and Federal Reserve Outlook:

Market anticipates continued Federal Reserve rate cuts, influenced by employment and wage growth data.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].