This is what you need to know to trade today Tuesday, April 20:
Markets are calm after a drop on Monday, but the dollar remains depressed. Mixed news about the virus and US infrastructure is in the spotlight, while cryptocurrencies continue their decline.
The US dollar is on the defensive for the second day in a row, with EUR / USD changing hands around 1.2060, the highest level since the beginning of March. The dollar’s decline comes despite a rebound in US Treasury yields. Benchmark ten-year bond yields are around 1.60%.
The market mood is relatively calmAlthough Wall Street ended Monday’s session with moderate declines, not with gains. The earnings season is in full swing.
United States President Joe Biden welcomed members of Congress from both parties in an attempt to gain support for his infrastructure spending programs. Post-meeting remarks have shown an optimistic mood but no substantial progress.
The GBP/USD it has managed to take advantage of the weak dollar to move above 1.40 with Britain’s successful vaccination campaign also helping. UK employment figures are forecast to show a small increase in the unemployment rate from 5% to 5.1%.
The oro it is trading around $ 1,770, consolidating its gains from previous days and weathering rising US yields.
Chinese President Xi Jinping warned the United States not to “give orders” and also warned against commercial disassociation. He committed his country, the second largest economy in the world, to fight against climate change.
The Commodity currencies are big beneficiaries, with AUD / USD advancing towards 0.78 despite the Reserve Bank of Australia minutes stating that the unemployment rate remains too high.
CoronavirusIndia has continued to suffer record daily infection levels above 270,000, weighing on the local stock market and the rupee. In the US, cases are stabilizing after several days of spikes, which could show that the immunization campaign is paying off. About 40% of Americans have received at least one dose.
The cryptocurrencies They have been spreading their losses, with Bitcoin pressed around $ 55,000 and Ethereum suffering its sixth consecutive day low, changing hands around $ 2,120. Analysts see the drop as a healthy correction. XRP costs around $ 1.30 and Dogecoin, which started as a joke, is already worth around $ 54,000.
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