Forex Today: It’s going to get noisy

FXStreet Team FXStreet

What you need to know on Wednesday, April 29th:

The US Dollar seesawed between gains and losses alongside the market’s sentiment, ending the day with uneven results against its major rivals. EUR/USD and GBP/USD are little changed daily basis, while commodity-linked currencies retain most of their intraday gains. The USD/JPY pair settled at its lowest in over a month sub-107.00.
The ECB announced it expects increasing demand for emergency credits in the second quarter of the year, and they are to meet this with easier credit standards.
The market remains mildly optimistic about economic re-openings, leading to gains in equities. Dismal US data, however, weighed on Wall Street, with the three US indexes closing in the red. Tech-related shares suffered the most.
US Treasury yields remained depressed as despite flattening coronavirus-related curves, the world is far from returning to normal. A certain degree of caution persists.
Commodities came under selling pressure but closed the day little changed, as investors are in wait-and-see stance ahead of upcoming macroeconomic events in the US and the EU.
The US will release this Wednesday the first estimate of Q1 GDP, seen down by 4.0%, while the Fed will have a monetary policy meeting. Both critical events are set to rock the greenback.
Crypto Today: XRP bulls shine smashing the big $0.2000 restoring buyer confidence

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FXStreet Team

FXStreet

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