Today started with good news from Australia, where the RBA meeting was held. Unexpectedly for investors, the regulator left the rate at the current level. They had anticipated that due to the deterioration of the economic situation and low inflation, the RBA reduce the rate to 1.25%. In addition, the report on the trade balance was positive - the surplus in March was 9.2% more than expected on the market. Retail sales in March also exceeded forecasts. The Australian dollar strengthened after yesterday's decrease because of bad news about the trade conflict between China and the United States.
In the evening a report from the US on the number of open vacancies on the labor market is expected, which recently has pleased investors. The publication of the Ivey PMI index of business activity in Canada is also expected. The day will end with the publication of data on weekly oil reserves in the United States. Meanwhile, oil is recovering in price after yesterday's fall, and Gold is declining in value, in anticipation of new incentives for growth.
Tomorrow is expected to be more volatile, despite the lack of macroeconomic reports from the US. Reports from China on the trade balance are expected, which may affect the value of many major currencies. The cost of raw materials will also change with the change in demand for risky assets and the situation on the oil market.
