Forex Today: Market’s mood improved, UK PM Johnson in intensive care


Here is what you need to know on Tuesday, April 7th:

  • The market mood was positive as there have been signs of flattening coronavirus-related curves in Spain, Italy, and New York. Despite the numbers are still far from encouraging, at least seems it the lockdown measures are working.
  • Equities soared, yields recovered, and the greenback lost momentum. Nevertheless, the dollar’s losses were limited and uneven throughout the FX board. The EUR/USD pair was unable to move away from the 1.0800 price zone.
  • The GBP/USD pair seesawed between gains and losses, to close the day in the red below 1.2250  amid bad news related to UK PM Boris Johnson’s health. Rumors crossed the wires ever since he was hospitalized on Sunday, although Downing Street denied his condition worsened, until late US afternoon when the news reported that he was taken into intensive care.  Foreign Secretary Dominic Raab step up and that the government will follow Johnson’s plans.
  • The Japanese yen eased amid the better market mood, ending the day above the 109.00 threshold.
  • Commodity-linked currencies advanced against the greenback, although there were no fireworks. No critical level was broken, and in general, remained within familiar levels.
  • Crude oil prices eased after Friday’s rally, but the decline seemed a corrective slide.
  • Gold benefited the most from easing dollar’s demand, with the bright metal reaching a near one-month high of $ 1,658.85 a troy ounce.
  • Crypto Today: Bitcoin bulls building strong foundations above $7000

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

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD clings to recovery gains above 1.1350 after EU inflation data

EUR/USD gained traction and climbed to its highest level in more than 10 days above 1.1360 amid the broad-based selling pressure surrounding the greenback. The data from the euro area showed that the annual CPI jumped to 4.9% in November from 4.1% in October, helping the shared currency preserve its strength.

EUR/USD News

GBP/USD advances to mid-1.3300s on renewed dollar weakness

GBP/USD gathered bullish momentum during the European trading hours and climbed to 1.3350 area as the greenback remains under selling pressure amid slumping US Treasury bond yields. Investors await FOMC Chairman Powell's testimony.

GBP/USD News

Gold eyes $1,800 and $1,806 on road to recovery

The precious metal has staged a decent comeback, as bulls look to recapture the $1,800 mark amid a revival of the Omicron covid variant fears. A flight to safety theme remains in vogue killing the demand for the yields.

Gold News

XRP price on edge of cliff as Ripple faces imminent collapse

XRP price followed the rest of the cryptocurrency market lower over the weekend. The US Thanksgiving holiday gave cryptocurrency traders and investors some early Black Friday deals, but downside risks remain.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures