FX MARKET REPORT 13.04.2021

FX MARKET REPORT 13.04.2021

FX MARKET REPORT 13.04.2021

Daily Commentary
FX MARKET REPORT 13.04.2021
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FX MARKET REPORT 13.04.2021

GBP/USD rose 0.1% to 1.3748 after Britain’s economy grew by 0.4% in February from January. The pound is also to pay attention to Scottish elections just before the vote – TDS. EUR/USD hovers around 1.1900 post-ZEW; EUR/USD remains apathetic in the 1.1900 neighbourhood. The dollar alternates gain with losses ahead of US CPI. German, EMU Economic Sentiment deflates in April. The pair is losing 0.10% at 1.1898 and a breach of 1.1704 (2021 low Mar.31) would target 1.1602 (monthly low Nov.4) en route to 1.1570 (2008-2021 support line). On the upside, the next up barrier is located at 1.1927 (weekly high Apr.8) followed by 1.1989 (weekly high Mar.11) and finally 1.2000 (psychological level). was up 0.1% at 92.210, only marginally higher than Thursday’s low of 91.995, which was the weakest since March 23. USD/JPY rose 0.2% at 109.59 while the risk-sensitive AUD/USD fell 0.2% to 0.7610. The yield on the benchmark 10-year U.S. Treasury note has gained by about 2 basis points to just above 1.69% early Tuesday, after the Treasury auctioned $38 billion of 10-year paper on Monday, although this is still well below the 1.78% level hit on March 30, which was the highest in over one year. The greenback has eased back along with U.S. yields this month after surging to multi-month peaks on expectations that massive fiscal stimulus and a robust economic recovery will spur prompt the Fed to tighten faster than it is currently guiding. However, Fed officials have repeatedly stated that the central bank sees any near-term price pressures as transitory, and the central bank will want to see concrete improvements in inflation in employment before it tightens policy.

GBP/USD rose 0.1% to 1.3748 after Britain’s economy grew by 0.4% in February from January. The pound is also to pay attention to Scottish elections just before the vote – TDS. EUR/USD hovers around 1.1900 post-ZEW; EUR/USD remains apathetic in the 1.1900 neighbourhood. The dollar alternates gain with losses ahead of US CPI. German, EMU…

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