The bullish rally in the stock markets! | 23 4月 2021

The bullish rally in the stock markets!


#WTI:


OPEC raised its forecast for oil demand by 190 thousand bpd to 96.46 million bpd, on the background of the revision of the forecast for the United States, as strong growth of the American economy is expected this year. At the beginning of summer, the majority of the population in the economically developed countries of the world will be vaccinated against COVID-19, which will lead to an increase in the consumption of oil and petroleum products. The US and China will become the drivers of global economic growth this year, which will significantly increase oil consumption. This is a positive signal for the oil market!


Trading recommendation: buy 62.20 and take profit 64.00.


The bullish rally in the stock markets!


#SP500:


Bullish U.S. economic data, including a spike in retail sales and housing starts and tumble in jobless claims - are giving investors. Favorable economic outlook and short-term rise in inflation will not affect monetary policy. The Fed will keep rates close to 0% for a long time to come. The Federal Reserve will only cut back on asset purchases when it sees strong growth in employment. It is too early to think about it now. The central bank turns a blind eye to the growth of inflation and is ready to keep rates at historic lows for a long time. This is a positive signal for the US stock market.


Trading recommendation: Buy 4145 and take profit 4199.


The bullish rally in the stock markets!


#HSI:


China’s economy soared in the first quarter on a yearly basis. GDP for the first quarter grew a record 18.3% year-on-year and 0.6% quarter-on-quarter in March. The country’s economic recovery has progressed at a remarkable speed, with the losses from a recorded contraction in the first quarter of 2020 all but recovered by the end of September 2020. Strong industrial output and robust exports as COVID-19 fueled demand for Chinese-made medical goods and electronic devices also gave the recovery a leg up. The unemployment rate stood at 5.3%, slightly down from the previous reading of 5.5%.Strong macroeconomic statistics from China will have a positive impact on the capitalization of the Hong Kong stock market.


Trading recommendation: buy 28961 and take profit 29370.

 

David Johnson
Analyst of «FreshForex» company
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