Forex Today: Mild-optimism weighs on the greenback

FXStreet Team FXStreet

What you need to know on Monday, April 20^th:

The greenback softened at the end of the week amid a better market mood. The positive sentiment was triggered by US President Trump, who unveiled a three-phase approach to reopen the economy, although leaving the decision on governors. Also, studies with Remdesivir, an experimental drug, has shown some promising data on fighting COVID-19.
Equities soared on mounting hopes about economic openings, although the picture is unclear with some countries giving their first steps toward reactivating their economies and other extending the lockdown.
The EUR/USD pair finished the week at 1.0870, as the lack of a common policy to deal with the pandemic weighed on the shared currency.
GBP/USD settled sub-1.2500 as the UK leadership remains at doubt with PM Johnson still recovering from coronavirus. Brexit talks will resume this week as the kingdom has no plans to delay it beyond December this year. Meanwhile, the number of new coronavirus cases and the death toll continues to increase daily basis.
Safe-haven gold eased at the end of the week, with spot ending the week at around $1,680.00 a troy ounce.
Crude oil prices remained under selling pressure and reached fresh multi-year lows, amid persistent concerns about plummeting demand due to the coronavirus pandemic.
Bitcoin, Ethereum and Ripple: BTC/USD fights to close the week above $7,000

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FXStreet Team

FXStreet

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.