What you need to know on Friday, April 23:
The European Central Bank held a monetary policy meeting. As widely anticipated, European policy makers decided to leave rates unchanged. President Lagarde repeated well-known concepts, acknowledging signs of economic improvement, but conditional further progress on developments in the pandemic. Lagarde also noted that the central bank did not discuss reducing the PEPP and that they will continue to buy bonds at a faster rate. He reiterated that the short-term outlook is clouded, Bud added that a steady rebound in activity is expected later in the year. It was not an event, leaving room for trade related to sentiment.
The dollar rose in US trading hours as Wall Street reversed course and fell sharply. The catalyst was a belated reaction to a headline stating that US President Joe Biden is planning a capital gains tax increase to 43.4%. Meanwhile, Republican senators proposed a $ 568 billion framework that includes funding for bridges, airports, highways, and water storage that does not include tax increases.
US Treasury yields fell on the sour sentiment but remained within the previous weekly range.
EUR / USD briefly broke through the 1.2000 level, ending the day around it. The pound suffered the most, falling to 1.3823 and ending the day close. The Australian dollar also fell along with stocks, but the CAD remained close to its recent highs against the dollar.
Gold prices fell, with the shiny metal currently trading at $ 1,782 a troy ounce. Crude oil prices recovered a bit and the WTI settled at around $ 61.60 a barrel.
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