What you need to know on Tuesday, April 6:
The day began in slow motion as most of Asia and Europe were on an extended Easter holiday. However, risk appetite dominated the financial world in response to upbeat US employment data released last Friday. The optimistic mood accelerated with the opening of Wall Street, as the major indices soared to all-time highs. The dollar fell against all of its main rivals.
EUR / USD recovered the 1.3800 level while GBP / USD hovers around 1.3900 at the end of the day. Advances are timid at the moment, not enough to confirm the constant losses of the dollar in the short term.
British Prime Minister Boris announced that the kingdom will continue to come out of the blockade from April 12, as shops, alfresco dining for restaurants and bars, hairdressers, zoos and gyms will reopen. He also added that it is too early to say whether international summer holidays will be possible this year. The government will decide on non-essential international travel on May 17.
Commodity-linked currencies also gained against the dollar, with the AUD / USD pair trading around 0.7650 ahead of the RBA’s monetary policy decision. The USD / CAD pair fell towards 1.2500 despite the plummeting oil prices.
Meanwhile, USD / JPY tested bullish determination around 110.00. Rising stocks and stable US Treasury yields limited the decline.
Gold was lifeless, ending the day slightly lower at $ 1,726 a troy ounce.
Crude oil prices came under selling pressure after OPEC + decided to gradually increase production between May and July this year, starting at 350,000 barrels per day. The WTI tumbled and ended the day at $ 58.60 a barrel.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
