This is what you need to know to trade today monday april 25:
With the safe haven money flows Dominating financial markets at the start of the week, the dollar continues to gain strength against its main rivals and the DXY US dollar index has reached its highest level in more than two years at 101.73 on Monday. Reflecting risk aversion, US stock index futures are down 0.7-0.8% and the 10-year US Treasury yield is losing more than 2%. Germany’s IFO business sentiment survey will be included in the European economic calendar before the Federal Reserve Bank of Chicago releases the national activity index for March later in the day.
Investors are increasingly concerned about the slowdown in the global economy amid the conflict between Russia and Ukraine, the coronavirus-related lockdowns in China and the willingness of major central banks to tighten their monetary policies at an aggressive pace.
Ukrainian presidential adviser Mykhailo Podoloyak has said over the weekend that Russian forces were “constantly attacking” the steel plant in Mariupol, where Ukrainian forces remain under pressure.
The EUR/USD has opened with a bullish gap as investors reacted to Emmanuel Macron’s victory in the second round of the French elections, but quickly reversed direction. after touching its weakest level since March 2020 near 1.0700 During the Asian session, the pair has recovered a small part of its daily losses, but remains deep in negative territory below 1.0750.
The GBP/USD lost 1.5% on Friday after sterling came under heavy selling pressure following disappointing UK macro data releases. The pair remains defensive on Monday and trades at its lowest level in almost 20 months around 1.2730.
The Prayed is having a hard time finding demand at the start of the week despite falling US Treasury yields. XAU/USD is trading below $1,920 on Monday, dragged down by the general strength of the dollar.
The USD/JPY is falling as the Japanese yen attracts investors as a safe haven. Speaking at the IMF event on Friday, Bank of Japan (BoJ) Governor Haruhiko Kuroda said the central bank should persistently continue aggressive monetary easing.
The Bitcoin traded in a relatively tight range over the weekend, but extended its decline after breaking below $40,000 on Monday. BTC/USD is down more than 2% on the day around $38,500. The ethereum closed the previous five days in negative territory and fell sharply towards $2,800 at the start of the week.
Source: Fx Street
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