#SP500:
We are expecting a bullish rally! To address temporary disruptions in the market for Treasury securities, the Open Market Trading Desk at the Federal Reserve Bank of New York has updated the current monthly schedule of Treasury purchase operations. The purchases are intended to address highly unusual disruptions in the market for Treasury securities associated with the coronavirus outbreak. These purchases are part of the $80 billion of planned monthly purchases, including both $60 billion of reserve management purchases and $20 billion of reinvestments of principal payments received from the Federal Reserve’s holdings of agency debt and agency mortgage-backed securities. This is a positive signal for the stock market!
Trading recommendation: Buy 2530 and take profit 2750
#WTI:
American President Donald Trump, speaking from the White House Rose Garden, said that his administration intended to stock up the U.S. Strategic Petroleum Reserve, with prices being so low. This is a positive signal for the oil market! "We're buying it at the right price and that's something that would have not been possible a week ago," Trump said. "The price of oil went down quite a bit. So, we're going to fill it up." Federal Reserve will conduct purchases in each of five maturity sectors below at the times indicated, subject to reasonable prices. This factor will provide additional support to the oil market!
Trading recommendation: Buy 30.00 and take profit 33.00
XAUUSD:
We are expecting the development of a downward trend in the precious metals market. The massive liquidation by investors desperate for cash left the yellow metal with near-5% loss. For the week, gold lost more than 8.5%, its most in nearly nine years. Investors are increasing their short positions in the precious metals market. Fears of recession and the scheduled announcement of a national emergency for the United States by President Donald Trump to deal with coronavirus led to large-scale sales of gold.
Trading recommendation: Sell 1545 and take profit 1511.
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