Market sentiment struggled last week and most benchmark stock indices ended in red. On top Wall Street, Dow Jones and technical difficulties Nasdaq The composite is closed at -0.53% and -0.32%, respectively. The Asia – Pacific region is Nikkei 225 and Hang Seng fell 1.29% and 1.22%, respectively. The exception was the United Kingdom, where FTSE 100 increased by almost 0.5%.
It meant a rosy week for the fight against risk US dollar, but most of the progress was made on Friday after persistent losses throughout the week. The Dovishi Federal Reserve meant that the December 2022 interest rate hikes were largely unchanged. Profits USD could be a sign of the end-of-month balance. Treasury prices rose as yields weakened, suggesting some risk aversion.
The Canadian dollar also outpaced the consequences of the less developed BoC at the beginning of the month, maintaining its position against the USD. The strength of the greenback cooled precious metals, for example gold and silver prices. It remains to be seen whether the US dollar will be able to expand its profits in early May, but many glances may be directed British pound in front.
The Bank of England should pay the next monetary policy notice. This is how parliamentary elections take place in Scotland. Adequate support from the Scottish National Party could bring expectations back to another independence referendum. As such, it could be a volatile week for Sterling. In the meantime Australian dollar monitors the following RBA rate decision.
In terms of economic data, the US publishes the April non-agricultural payroll. However, it is unclear to what extent this may raise the Fed’s monetary policy expectations if the central bank is not expected to operate in the near term. The Canadian Jobs Report could therefore be Loonie given the recent activities of the BoC. What is left in the financial markets in the coming week?
A strong profit season has hidden investors with fresh optimism, but pricing can be difficult to post progress as the seasonal headwind rises in May. As a result, profits may slow down.
The cryptocurrency market continues to rebound sharply Ethereum loading higher and printing repetitive new vertices.
The price of gold may remain in the US farm payroll (NFP), the Treasury’s 10-year return will recover after protecting the lowest level in April (1.53%).
A strong rally of the year EUR / USD still showing no signs of losing momentum and the pair could extend their profits in the first week of May.
The British pound usually moves for a weak month, which outweighs the Scottish election risks. Although the BoE may declare a QE cone.
After disappointing first-quarter inflation data, the Australian dollar could fall if Rovati’s RBA has fallen. However, further growth in the Dow Jones may signal support for associated AUD.
USD / MXN trades back more than 20.00 pesos per dollar as rising bond yields help halt the US dollar’s losses.
The weakness of the US dollar was overwhelming for most of April, with the DXY index falling almost -3%, but the Greenback rose sharply towards the end of the month. Where is EUR/ USD, GBP / USDand the USD / CAD trend next?
The Nasdaq 100 index may be set to rise to new record highs following the formation of a bullish inverse graph of Head and Shoulders (H&S), which suggests further upside potential.
Gold is expected to close higher in April, breaking a 3-month series of losses. Prices may target channel resistance if the XAU / USD exceeds its 100-day SMA.
Once the main technical barrier has been removed, the pound may be vulnerable to further damage. Here are the important levels on the GBP / USD weekly chart in May.
Oil has begun to fall into a trunk with a huge resistance zone that has rejected the bull for the past three years. Why might this time be different?
USD / JPY rose sharply off a significant trend line last week; the short-term chart provides some guidelines to look at as the couple tries to move on.
The Australian dollar is in danger of falling sharply against the US dollar next week. However, bullish technical indicates additional gains Japanese yen may be in hand.