This is what you need to know to trade today friday april 21:
Markets remain undecided at the start of the last trading day of the week after having struggled to make a directional move throughout the week. On Friday, investors will closely monitor the polls of the S&P Global manufacturing and services PMI for Germany, the euro zone, the United Kingdom and the United States. Canadian retail sales data will be released during the American session and several European Central Bank (ECB) policymakers will deliver speeches.
See: S&P Global US PMI Preview: A Winning Situation for the Dollar? Why investors may be scared
Following Wednesday’s rally, global yields tumbled on Thursday and the yield on the 10-year US Treasury fell nearly 2%, making it difficult for the dollar to outperform its rivals. However, as Wall Street’s major indices remained under downward pressure, the DXY Dollar Index managed to find its footing. As of early Friday, the DXY Index continues to move sideways in the upper half of its weekly range, near 102.00. Meanwhile, US stock index futures are trading virtually unchanged on the day.
The UK Office for National Statistics has reported on Friday that retail sales decreased 0.9% on a monthly basis in March. The annual variation improved slightly from -3.5% to -3.1%, matching the market consensus. He GBP/USD has come under slight bearish pressure following the disappointing data and is now trading in negative territory slightly above 1.2400.
For the second consecutive day on Thursday, the pair EUR/USD it closed practically unchanged near 1.0950. The pair continues to move around that level during the European morning on Friday. The Eurozone S&P Global Composite PMI is forecast to hold steady at 53.7 points in the preliminary estimate for April, while the Germany Composite PMI expected to rise to 52.7.
He Australia’s S&P Global Composite PMI improved to 52.2 points from the 48.5 seen in March, with services PMI rising to 52.6 from 50.7. However the AUD/USD failed to capitalize on this report and is trading in negative territory below 0.6700.
He USD/CAD extended its weekly rally on Thursday as relentless downward pressure surrounding crude oil prices continued to weigh on the commodity-price-sensitive Canadian dollar. The pair maintains its bullish momentum early Friday and is trading at its highest level in over a week above 1.3500. Canadian retail sales forecast to decline 0.6% in February.
The price of gold It benefited from falling bond yields and closed in positive territory near $2,000 on Thursday, erasing losses from Wednesday. XAU/USD seems to have a hard time holding its ground on Friday and is now down almost 1% on the day below $1,990.
He USD/JPY it reversed direction on Thursday after finding resistance near 135.00 and is extending its decline into early Friday. At time of writing, the pair is down 0.3% on the day below 134.00.
After the strong fall on Wednesday, the Bitcoin it failed to stage a rebound and lost nearly 2% on Thursday. BTC/USD continues lower on Friday and is now testing $28,000. He ethereum tried to recapture $2,000 on Thursday but failed to muster enough bullish momentum to do so. ETH/USD seems to have found new bearish pressure during the European morning, falling towards $1,900.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
