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EUR/USD Forecast: Technically Neutral In The Near-Term But Holding Near Monthly Highs

Share: US data beat expectations, but investors remained in cautious mode. US Federal Reserve set to announce its monetary policy decision on Wednesday. EUR/USD is technically neutral in the near-term but holding near monthly highs. The EUR/USD pair held within familiar levels, ending Tuesday unchanged in the 1.2080 price zone. The pair fell to 1.2060 during European trading hours, as a cautious mood prevailed. European indexes closed in the red, although not far from their opening levels, weighing on US indexes, which anyway traded mixed around their opening levels. Investors ignored upbeat US data as the Conference Board Consumer Confidence Index rose in April to 121.7 from 109.0 in March, widely surpassing the market’s expectations. The country also published the April Richmond Fed Manufacturing Index, which held at 17, better than the expected 16. The EU didn’t publish macroeconomic data.

April 2021 Conference Board Consumer Confidence Nears Pre-Pandemic Levels

The latest Conference Board Consumer Confidence Index s headline number improved again in April. The Index now stands at 121.7 (1985=100), up from 109.0 in March. A quote from the Conference Board: . Consumers assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2 . Analyst Opinion of Conference Board Consumer Confidence Consumer confidence had been steady for the previous two years - but the coronavirus killed the upswing. Consumer confidence during the pandemic was as low as seen in 2014 - but now has improved to nearly pre-pandemic levels. The consensus range from Econoday was 108.0 to 115.0 (consensus 112.0). This month s index is based on data collected through 16 April 2021.

27Apr2021 Market Close: Wall Street Closes Flat To Slightly Lower Ahead Of Deluge Of Tech Earnings, DOW Up 3 Points (three), Nasdaq Down 0 3%, SP 500 And Nasdaq Both Unable To Penetrate Solid Resistance

Crypto was higher on the day (as was the dollar and commodities) but for big-tech stocks, bonds, and bullion it was sell, Mortimer, sell . The cash open sparked chaos in Small Caps and a dump in big-tech stocks. Small Caps were puked after the European close. S&P and the Dow manage to scramble back into the green (dumping into the red in the last 5 seconds), Small Caps were best and Big-Tech Nasdaq 100 the biggest loser. Here s the chaos at the cash open in Small Caps. Days after Apple announced plans to launch its first subscription podcasting platform, Spotify - after making a splash last year when it recruited Joe Rogan, Kim Kardashian and a handful of other big name stars to its podcasting platform - is planning a similar paid platform that will charge creators a much smaller slice of revenues.

30Mar2021 Market Close: Oil Prices Fall As Bearish Sentiment Returns, WTI Crude Settles At 60 43, US Dollar Continues To Rise 93 28, Silver Slips 23 94, DOW Closes Down 104 Points, Nasdaq Down -0 1%

30Mar2021 Market Close: Oil Prices Fall As Bearish Sentiment Returns, WTI Crude Settles At 60 43, US Dollar Continues To Rise 93 28, Silver Slips 23 94, DOW Closes Down 104 Points, Nasdaq Down -0 1%
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