S&P500

The main thing:

Yesterday, the US market rallied on the back of strong employment data, and on Biden's new $3 trillion spending plan.

US indexes rose overall: S&P 500 went up +0.36%, NASDAQ increased +1.5%, while Dow declined -0.3%.

According to the news, US employment for March increased by +517 thousand, which is much higher than in February (+117K). Today, the US market received a new report on employment, which for the first time in a week-long term unemployment fell, according to the forecast, below 3.8 million.

An important report on the index of business activity in the US industry was released at 14:00 UTC: The IS index is forecasted to reach the level of 59 - this is a steady growth.

Biden unveiled a new $2 trillion U.S. development plan yesterday. This is a plan to create millions of new jobs in infrastructure, green energy, and helping the elderly. The US president compared the program to a space project. The plan should be a response to the challenge of China in the struggle for world leadership. Republicans are already criticizing Biden's idea, indicating that there will be a struggle to raise taxes on wealthy Americans and corporate profits.

Meanwhile, the market is generally positive about Biden's new spending plan, despite the fact that there's a tough congressional debate ahead on raising taxes to fund the new plan.

The third wave of the pandemic remains a big risk for global markets, especially in Europe. In the US, coronavirus cases grew up to +69K yesterday, but there is a good chance that the high rate of vaccination will bring down the wave. In Europe, the number of new cases is growing in France, Italy, and Germany. While in France, it rose to +42 thousand yesterday, and vaccination is slow.

The market is expected to grow today, but it is leaving for a long weekend, because of Catholic Easter. Perhaps the growth will be postponed until the new week.

Asian markets closed on a wave of optimism today: China +0.8%, Japan +1%. In Japan, the important quarterly Tankan business activity indices were released. Based on the indices, all indicators are much better than forecasts. The Japanese economy is ready for growth.

DJ 33000. There is a possibility for growth. The range is 32900-33300.

WTI 59.50 +0.6%. Oil is rising on the back of OPEC's determination not to increase production quotas, despite the global economic recovery and a decline in gasoline stocks in the United States. Forecast is $58-61.

USD/CAD. The dollar declined moderately against the Canadian currency to 1.2580 yesterday. Forecast range is 1.2500-1.2650.

USDX. The dollar index met resistance on the way up at 93.40. The forecast is a range of 92.80-93.40.