Key Fundamental Bullets:
- USD could not establish a trend as Fed tapering QE continued, but qualitative forward guidance emerged
- NZD advanced sharply as the RBNZ hiked rates by 25bps in March – First of G10 central banks to raise rates
- AUD rallied as the RBA removed language signaling further rates cuts
- JPY outperformed as the Nikkei 225 fell by nearly 9% in 1Q
- NOK appreciated as pressure for a rate cut by the Norges Bank subsided due to better Norway data
- CHF caught a bid on EM/Russia/European safe-haven demand
- CNH underperformed as PBoC widened their daily FX trading band & Chinese data was weaker than expected
- CAD fell as the Bank of Canada’s rhetoric proved more dovish here in 2014
- RUB deteriorated sharply when tensions between Russia and the Ukraine escalated
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.