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OPEC+ video meeting postponed
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German factory orders declined less than expected in February
Moods on the global financial markets are upbeat with equities rallying. European index futures point to massive 3-4% bullish price gaps at cash session open.
Video meeting of OPEC+ group was expected to be the main event of the day. However, the meeting was postponed until, at least, Thursday, April 9 after a rift between Saudi Arabia and Russia surfaced over the weekend. Nevertheless oil price is likely to swing around on headline news today.
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Open account Try demo Download mobile app Download mobile appNo major data releases are scheduled for today. German factory orders data for February was released at 7:00 am BST and it surprised to the upside. Data showed a drop of 1.4% MoM against an expected decline of 2.5% MoM. However, the data does not capture the impact of lockdown measures imposed in Europe.
Major readings and events scheduled for the later part of the week
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RBA decision (Tuesday, 5:30 am BST)
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FOMC minutes (Wednesday, 7:00 pm BST)
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OPEC+ video meeting (Thursday)
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ECB minutes (Thursday, 12:30 pm BST)
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Flash UoM consumer sentiment for April (Thursday, 3:00 pm BST)
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US CPI for March (Friday, 1:30 pm BST)
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