Developments to Follow in the Markets Today

Developments to Follow in the Markets Today

On the 4th day of the week, US data, OPEC meeting and Fed President Powell's speech are among the important topics to be followed today.    The results of the Fed's meeting, which has reduced interest rates, were announced yesterday, and all members were observed to panic against the risks of the coronavirus outbreak. According to officials, April is the most risky time and there will be sharp declines in the data of this period. Fed President Powell's comments on coronavirus are among the topics to be followed closely. OPEC members postponed the meeting to the present day with the Saudi Arabia-Russia dispute. Oil, which has been rising last week with the announcement of US President Trump's warnings about supply cuts and expecting a compromise on this issue, continues to rise before the meeting. It is curious how the countries whose income depends on oil exports will cut supply in today's meeting will be determinant in the movement of oil. Expectations in the markets are thought to be 10 million barrels a day with Trump's explanations. Another important data to be followed today will be the US weekly unemployment benefits. Applications for record-breaking unemployment benefits, which reached 3.3 million in the previous week and 6.6 million in the past week, are expected to arrive at 5 million in the last week. Agricultural employment announced last week also decreased by 701 thousand people and the unemployment rate increased from 3.5% to 4.4%.