FX MARKET REPORT 12.04.2021

FX MARKET REPORT 12.04.2021

FX MARKET REPORT 12.04.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 12.04.2021
/
FX MARKET REPORT 12.04.2021

GBPUSD: Recovers from daily lows near 1.3670 as UK economy gears up for re-opening. GBPUSD cheered up on hopes of a gradual re-opening of the UK economy.UK Prime Minister Borris Johnson reminded people to behave ‘“responsibly”. However, the strength in the US dollar kept the momentum in check. EUR/USD faces selling pressure below 1.1900. EUR/USD extends Friday’s pullback to the 1.1870 region. USD buying remains behind the softer tone in the pair. EMU’s Retail Sales contracted 0.6% MoM in February. The dollar edged higher in early European trading Monday, but still traded near 2-1/2-week lows as the recent decline in Treasury yields undercut support for it. The dollar index was up 0.1% at 92.248, after falling below 92 late last week for the first time since March 23. USD/JPY fell 0.1% at 109.57, while the risk-sensitive AUD/USD fell 0.2% to 0.76095. Federal Reserve Chair Jerome Powell continued the mantra Sunday that near-term price pressures will prove transitory, and the central bank’s ultra-easy monetary policies were here to stay. He added the U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also noted risks that a hasty reopening could lead to a continued increase in coronavirus cases.

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

GBPUSD: Recovers from daily lows near 1.3670 as UK economy gears up for re-opening. GBPUSD cheered up on hopes of a gradual re-opening of the UK economy.UK Prime Minister Borris Johnson reminded people to behave ‘“responsibly”. However, the strength in the US dollar kept the momentum in check. EUR/USD faces selling pressure below 1.1900. EUR/USD…

Leave a Reply

Your email address will not be published. Required fields are marked *