What you should know on Friday, April 8:
The market mood remained sour as attention remained on the hawkish line of central banks and tensions between Russia and the Western world. USA. it has expanded its actions against Moscow, hitting Russian Sberbank and Alfa Bank and banning investment in the country by American companies. The EU, meanwhile, backed a Russian coal embargo, though without officially confirming it. The dollar remained strong.
Ukraine presented a new agreement proposal on Thursday, although it includes discussing the situation in Crimea and Donbass, something that Russia considers unacceptable.
The European Central Bank made public the Accounts of its last meeting. The document showed that policymakers believe the bond-buying program has now served its purpose, and by ending it in the summer, it would pave the way for a third-quarter rate hike.
Asian and European stocks closed in the red, but Wall Street managed to recover some ground after two days of heavy losses. At the same time, government bond yields remained at the upper end of the range, with the 10-year US Treasury yield rising as high as 2.65% by the end of the day.
The EUR/USD pair is trading around 1.0870, while GBP/USD is trading at 1.3070. The dollar appreciated against its safe haven rivals, with USD/CHF trading at 0.8340 and USD/JPY close to 124.00.
Commodity-linked products lost some ground, with AUD/USD dipping as low as 0.7470 and USD/CAD rising as high as 1.2585.
Source: Fx Street
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