What you need to take care of on Friday, April 15:

The American dollar was once again firmly up, giving up some of its recent gains ahead of the close as speculative interest booked some profits ahead of the Good Friday holiday.

The EUR/USD pair plummeted to 1.0765, its lowest in two years, following the European Central Bank monetary policy decision. The ECB kept rates on hold as widely anticipated and repeated that it would end its bond-buying program in the third quarter of the year. Monthly net purchases will amount to €40 billion in April, €30 billion in May and €20 billion in June.

The statement was quite dovish, as it noted that Russia's aggression is affecting the economies in Europe and beyond. Higher energy and commodity prices are affecting demand and slowing production, which results in higher inflation. Also, trade disruptions are leading to new shortages of materials and inputs, another factor weighing on prices pressure. President Christine Lagarde said it was “premature” to discuss quantitative tightening, adding that rate hikes   could begin “sometime after”  the end of the APP program.

The GBP/USD pair settled around 1.3070, down for the day but off intraday lows. Commodity-linked currencies, on the other hand, finished the day near their daily lows against the greenback. AUD/USD trades in the 0.7410 price zone, while USD/CAD hovers around 1.2615. Finally, the USD/JPY pair settled around 125.90.

US Federal Reserve officials were on the wires.  New York Federal Reserve President John Williams said that the central bank should reasonably consider hiking by 50 bps in May, while Cleveland Fed President Loretta Mester noted that the Fed aims to reduce policy accommodation at the pace necessary to control inflation whilst also sustaining economic activity.

Inflation-related concerns pushed US government bond yields towards their recent multi-year highs. The yield on the 10-year Treasury note peaked at 2.835%, now standing at 2.82%.

Wall Street kick-started the day with a positive tone but gave up ahead of the close. The three major indexes ended the day with losses.

Most financial markets will be closed until Monday amid the Good Friday Holiday.

Litecoin rebounds but stays below a downside resistance line


Like this article? Help us with some feedback by answering this survey:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bears flirt with 0.6900 amid recession woes, Aussie Retail Sales, Fed’s Powell eyed

AUD/USD bears flirt with 0.6900 amid recession woes, Aussie Retail Sales, Fed’s Powell eyed

AUD/USD remains depressed around 0.6900, after a two-day downtrend, as traders await key Aussie data during Wednesday’s Asian session. That said, the risk barometer pair refreshed its weekly high before closing in the red for the second consecutive day on Tuesday.


EUR/USD: A downside break of an ascending triangle looks imminent at 1.0500

EUR/USD: A downside break of an ascending triangle looks imminent at 1.0500

The EUR/USD pair is juggling in a minor range of 1.0518-1.0531 in the early Tokyo session. The confluence of the Ascending Triangle formation and Inverted Flag has strengthened the greenback bulls.


Gold eyes further downside towards $1,800, Fed Chair Powell in focus

Gold eyes further downside towards $1,800, Fed Chair Powell in focus

Gold Price remains on the back foot around $1,820, despite the recent bounce off intraday low. In doing so, the yellow metal prints a three-day downtrend as traders await the week’s key data/events amid a sluggish Asian session on Wednesday.

Gold News

Compound price: You won't believe how high COMP can rally

Compound price: You won't believe how high COMP can rally

Compound's COMP price could be a very favorable digital asset in the coming weeks. This article is meant to inform investors of data excluded on Tradingview's Binance, Coinbase and Kucoin exchanges for reasons that have yet to be explained. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!