Strong rise in oil turns everything upside down

Investors now await a series of US economic releases this week, including Tuesday's jobs opening data, Wednesday's ADP private payrolls report and Friday's monthly jobs report.

INDICES

Wall Street extended its gains for the third straight session and closed higher on Friday, the last trading day of the month and quarter. The Dow rose more than 400 points while the S&P 500 and Nasdaq added 1.4% and 1.7%, respectively. The Fed's preferred measure of inflation, the US Core Personal Consumption Expenditures Price Index, came in below expectations at 4.6%, in the latest sign that inflation has peaked and sparked speculation that the Fed's rate-tightening cycle could end soon. Still, several Fed policymakers suggested this week that further monetary tightening would be needed to rein in inflation, even after recent turmoil in the banking sector.

Today, Fed William also said the banking crisis will play a role in assessing the Fed's next rate move, while inflation remains a top concern. During the first quarter, tech stocks posted record gains, as the Nasdaq rose 17.6%, while the Dow Jones and S&P 500 rose 0.4% and 7.4%, respectively. Still, tech stocks performed well and served as a safe-haven bet for investors despite heightened economic uncertainties. while the Dow Jones and S&P 500 rose 0.4% and 7.4%, respectively. Still, tech stocks performed well and served as a safe-haven bet for investors despite heightened economic uncertainties. while the Dow Jones and S&P 500 rose 0.4% and 7.4%, respectively. Still, tech stocks performed well and served as a safe-haven bet for investors despite heightened economic uncertainties.

COMMODITIES

WTI: WTI crude futures rose about 7% to above $80 a barrel on Monday, hitting their strongest levels in more than two months after OPEC announced a surprise production cut of more than 1 million barrels a day. . This complicates the outlook for inflation and interest rates, as investors had been betting that easing price pressures would give central banks room to halt the current tightening cycle. A dispute involving Kurdish authorities that halted exports of around 400,000 barrels a day from Turkey's Ceyhan port has also tightened the market since last week and looked unlikely to be resolved anytime soon. On the demand side, investors remain optimistic about China's recovery,

FOREIGN EXCHANGE

EURO: The euro remained above $1.089, not far from a seven-week high of $1.0929 hit on March 22 and aiming for a gain of more than 2% against the USD, amid expectations that the Central Bank European Union will continue to increase interest rates in the coming months to combat inflation. . The latest CPI report showed eurozone inflation slowed in March to a year-on-year low of 6.9% as energy prices fell for the first time in two years, but the core index accelerated to a new all-time high of 5.7%. Earlier this month, ECB President Lagarde said the central bank was determined to bring inflation back to its target and that there would be no “offsets” despite recent banking turmoil and recessionary risks.

Chilean Peso : We are seeing a rebound in the national currency in the area of $786, which has been a strong support and we are seeing a climb that closed at levels of $794 on Friday, even reaching $796 during the trading day. For now we are seeing that the dollar index is gaining strength and is already at levels of 103, which would help the upward momentum that the dollar peso is having and most likely will take it to the area of $815, where it appreciates in the graph that has been falling the average of 200 periods of graphs of 4 hrs. For now, we see the levels of $836 as strong resistance and we believe that during the year the dollar should strengthen since strong consumption of the red metal is expected internationally and the low inventories in which it is found.

CRYPTO MARKET

BTC price targets set at $35,000 as Bitcoin targets “overwhelming” liquidity shortage. A recent analysis of the Bitcoin price indicates that if it exceeds supply liquidity around $30,000, its rise will cause “massive” liquidations. Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD was flat over the weekend after closing March at around $28,500. A previous key point of resistance in its current halving cycle, the current trading zone represents a major hurdle for the bulls to overcome. If they do, the price targets extend beyond the $30,000 mark. Bitcoin price turns $28,000 into support, opening the door for a rally in ETH, MATIC, HBAR, and EOS.

It is likely that BTC, ETH, MATIC, HBAR and EOS gain momentum if they cross above their respective overhead resistance levels. In March, the market witnessed a serious banking crisis, with the failure of Silicon Valley Bank and Signature Bank, and the liquidation of Silvergate Bank, due to its severe financial difficulties. In Europe, the government negotiated the forced takeover of Credit Suisse by UBS. Even so, the US equity markets and European stock markets closed the month on a positive note. While Bitcoin scored a 23% gain during March. due to his serious financial difficulties. In Europe, the government negotiated the forced takeover of Credit Suisse by UBS. Even so, the US equity markets and European stock markets closed the month on a positive note. While Bitcoin scored a 23% gain during March. due to his serious financial difficulties. In Europe, the government negotiated the forced takeover of Credit Suisse by UBS. Even so, the US equity markets and European stock markets closed the month on a positive note. While Bitcoin scored a 23% gain during March.