Forex Today: Dollar finishes Q1 on a strong note

FXStreet Team FXStreet

What you need to know on Thursday, April 1:

The dollar ends March with substantial gains against most major rivals, and near fresh yearly highs against the EUR and the JPY. Yields ticked lower on a daily basis but finish the month near multi-month highs. The yields on the 10-y note settled above 1.70%.

The pound gained on Wednesday, as the UK Gross Domestic Product was upwardly revised from 1% to 1.3%. Additionally, Total Business Investment in the same quarter printed at 5.9%, much better than the 1.3% previously estimated.

Gold also advanced, peaking for the day at 1,715 and finishing at $ 1,706.00 a troy ounce. Crude oil prices fell, with WTI ending the day around $ 59.20 a barrel.

Wall Street closed in the green, with the Nasdaq sharply up, but the Dow and the S&P posting modest gains.

Coronavirus: French President Emmanuel Macron announced a nationwide lockdown for at least one month starting on Saturday, as the health system is distressed while the number of new contagions remains on the rise. Brazil detected a new variant, similar to the South African one, while Pfizer announced its vaccine is 100% effective in teenagers, after completing phase three trials on children aged 12-15

XRP price poised for 42% breakout as whales go into a buying frenzy

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FXStreet Team

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EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.