XE Market Analysis: North America - Apr 23, 2021
The dollar has remained on softening tack, with the narrow trade-weighted DXY index reversing much of the gains seen yesterday. The low so far today is 91.01, which is 1 pip from yesterday s low is at 91.00 and the seven-week nadir seen earlier in the week is at 90.86. The 10-year U.S. Treasury yield ticked higher and then ticked lower, continuing to bump along near one-month-plus lows. EUR-USD lifted to a high at 1.2063 on the back of the dollar s weakening, extending a rebound from yesterday s four-day low at 1.1993. USD-JPY remained heavy, testing the seven-week low that was pegged yesterday at 107.81. AUD-USD also rose, reversing most of Thursday s decline, while USD-CAD printed a two-day low at 1.2468. Oil prices lifted out of lows, with front-month WTI futures recouping to the $62.0 level, up from yesterday s nine-day low at $60.62, but remaining some 2% down from week-ago levels. Base metals have also ticked higher today follow
ECB s de Cos: PEPP purchases should be adjusted to counter rise in interest rates fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
4/19/2021 4:14:28 PM GMT
The ECB is set to leave its policy unchanged in April but acknowledge a brighter outlook.
Vaccines, business optimism and stable yields are among the reasons for a more optimistic approach.
EUR/USD has room to rise on expectations that the bank would scale back its PEPP plan. Delayed, not derailed – that has been the message coming from Christine Lagarde, President of the European Central Bank, and she will likely repeat it. However, while the Frankfurt-based institution announced it would bring forward some of its support in its March meeting, the view could be significantly different this time. That could lift the euro.
The dollar has ebbed to a two-day low by the measure of the narrow trade-weighed DXY index, at 91.00, extending the decline from yesterday's high at 91.43 and returning focus to Tuesday's seven.
The DXY dollar index posted a two-day low at 91.00, extending the decline from yesterday's high at 91.43 and returning focus to Tuesday's seven-week low at 90.86. EUR-USD concurrently printed a two.