FX MARKET REPORT 16.04.2021

FX MARKET REPORT 16.04.2021

FX MARKET REPORT 16.04.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 16.04.2021
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FX MARKET REPORT 16.04.2021

GBP/USD risk looks to be already shifting lower again and below 1.3750 would warn of a retest of key support from the March low at 1.3670/63, the Credit Suisse analyst team reports. Eurozone inflation arrives at 1.3% YoY in March. Monthly CPI in the bloc rises by 0.9% in March. EUR/USD defends minor bids, unfazed around 1.1975 on the data release. According to Eurostat’s final reading of the Eurozone CPI report for March, the consumer prices came in at 1.3% on a yearly basis, meeting the flash estimate of 1.3% and 1.3% expectations. While the core figures steadied at 1.4%, also matching the 0.9% consensus forecasts. The dollar index inched up 0.10% to 91.713. The USD/JPY pair inched up 0.06% to 108.81. The AUD/USD pair edged down 0.16% to 0.7738 and the NZD/USD pair inched down 0.10% to 0.7162. The USD/CNY pair edged up 0.12% to 6.5296. Chinese economic data released earlier in the day said that the GDP for the first quarter grew 18.3% and 0.6% year-on-year and quarter-on-quarter respectively in March. Although both figures were lower than forecasted, economic growth soared on a yearly basis while slowing down on a quarterly basis.

GBP/USD risk looks to be already shifting lower again and below 1.3750 would warn of a retest of key support from the March low at 1.3670/63, the Credit Suisse analyst team reports. Eurozone inflation arrives at 1.3% YoY in March. Monthly CPI in the bloc rises by 0.9% in March. EUR/USD defends minor bids, unfazed…

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