This is what you need to know to trade today Wednesday April 14:
Markets remain bullish amid relatively subdued inflation and despite the disruption in J&J vaccine distribution. Christine Lagarde, Jerome Powell and other central bankers are in the spotlight. Cryptocurrencies are climbing to new highs.
Several US stock indices have reached new all-time highs and they are also driving the Asian and European markets higher. Inflation in the US advanced in March, but did not reach what some feared, with the CPI excluding food and energy reaching 1.6% annually, allowing a rebound.
The US dollar is depressed amid the activation of risk sentiment and after a 30-year Treasury auction received high demand from investors. Benchmark ten-year yields have fallen to around 1.60%.
See Quick Analysis of US Inflation: Judgment Day will wait, but the second “sell the fact” of the dollar seems close
The EUR/USD it is changing hands above 1.1950 despite a setback in Europe’s vaccination campaign. Johnson & Johnson suspended deliveries of its single-dose COVID-19 vaccines to the Old Continent due to concerns about blood clots that emerged in the US.
The FDA paused the vaccines after six of them were related to J&J doses. Without pharmaceutical vaccines, the EU will be prepared to immunize 70% of the population in December instead of this summer, but the delay may be temporary. It is expected that the President of the European Central Bank, Christine Lagarde, talk later in the day.
The GBP/USD is rising towards 1.38 and the USD/JPY it is trading around 109.00. The NZD / USD It is around 0.71, benefiting from a weaker dollar following the Reserve Bank of New Zealand’s rate decision, which left rates unchanged.
Jerome Powell, Chairman of the Federal Reserve, and three of his colleagues will speak later in the day, in parallel to the publication of the bank’s Beige Book, which includes anecdotal evidence on economic activity across the country. The message from the Fed has been that the higher inflation in the spring is temporary and that it is prepared to maintain the accommodative policy until the employment situation improves substantially.
The cryptocurrencies They are still on a roll, with Bitcoin approaching $ 65,000. Ripple’s XRP is approaching the $ 2 level and Ethereum is also on the rise, changing hands around $ 2,400.
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