This is what you need to know to trade today monday april 4:
There appears to be a positive shift in risk sentiment at the start of the week as investors once again turn bullish on a diplomatic solution to the Russia-Ukraine conflict. The economic calendar will not feature any high-impact data releases on Monday and market participants will remain focused on geopolitical headlines. The US dollar index remains relatively calm near the 98.50 zone on the back of a more than 1% rise in 10-year US Treasury yields, with equity futures up around 0.2%.
Over the weekend, a top Ukrainian negotiator said consensus had been reached on enough elements of a potential peace deal that it could be ready for discussion by Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelensky. Meanwhile, US Secretary of State Antony Blinken said the West could lift sanctions on Russia depending on the outcome of upcoming negotiations.
The EUR/USD it is moving sideways in a tight range near 1.1050. At the European open, data from Germany showed the trade surplus narrowed to €11.5bn in February from €11.6bn in January, improving market expectations for a reduction to €9.6bn, but did not help the euro. to find demand.
The GBP/USD rose in the European morning and was last seen near 1.3130. Bank of England Governor Andrew Bailey is scheduled to deliver a speech at 09:05 GMT.
After fluctuating a lot last week, the USD/JPY remains calm on Monday and trades in positive territory above 122.50. Japan’s Chief Deputy Cabinet Secretary Seiji Kihara expressed his support for the Bank of Japan’s (BOJ) ultra-loose policy. “It is difficult to tighten monetary policy to deal with cost-driven inflation, which means monetary policy must remain loose,” Kihara said, adding that loose policy was necessary amid the fragile economic recovery.
The gold started the new week under modest bearish pressure and fell towards the lower end of last week’s range. Rising US Treasury yields and improving market sentiment weigh on the yellow metal so far this day.
The USD/CAD It is trading in the red near 1.2500 after closing the two trading days higher. The Bank of Canada will release its Business Outlook Survey later in the day.
The Bitcoin is having a hard time making a decisive move in either direction and is trading around $46,000 early Monday. Ethereum reached its highest level since the first week of January at $3,580 on Sunday, but returned to the $3,500 area.
Source: Fx Street
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