April 15, 2021 - Written by John Cameron
GBP/USD Exchange Rate Steady as US Retail Sales Beat Forecasts
The Pound US Dollar (GBP/USD) exchange rate held steady this morning after the ‘Greenback’ was undermined by a dovish Federal Reserve. The Fed’s Chairman Jerome Powell suggested that it was unlikely that the bank would raise interest rates until as late as next year.
The pairing is currently fluctuating around $1.37.
Added to this, demand for the safe-haven ‘Greenback’ have been undermined by growing confidence in the global economy.
In US economic data, today saw the release of March’s retail sales figure, which beat forecasts and rose by 9.8%.
Share:
This market reminds us of the old adage: How do you climb Mount Everest? One step at a time.
That’s how this rally has been during the pandemic. Meandering a path that seems at times insurmountable, other times flat and sure; at times the oxygen level has felt a bit thin but over time scaling to heights not seen before.
Futures activity this morning suggests the
S&P 500 Index (SPX) may take another page out of this week’s playbook by rising a little bit yet still closing at a record. After all, anything higher than yesterday, even a 1 point gain, would be new territory.
SPX Appears Poised For Record Though Volume Expected To Be Light Ahead Of Bank Earnings forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
It was a bullish March for the European majors, in spite of a fresh spike in new COVID-19 cases. Economic data, COVID-19, and geopolitics will be in focus in the month ahead.
All Along the Watchtower, Part I | Model Portfolio Channel etftrends.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etftrends.com Daily Mail and Mail on Sunday newspapers.