Should we keep an eye on the direction of the U.S. dollar?
15.04.2021
- BTC is once again nearing $70,000
- Turkey: Policy Rate/Statement Release
Yesterday, the Dow Jones Industrial Average traded in positive territory. While cryptocurrency exchange Coinbase went public on the Nasdaq, its closing price fell about 14% from its opening price, and the Nasdaq closed at 13,857, down 0.99% from the previous day. Gold traded sideways around $1,739, while crude oil recovered to the $63 range.
The foreign exchange market is currently lacking a clear direction. Among the yen crosses, the Oceania currencies, which had been showing strength, rose by more than 100 pips, while USD/JPY has been trading in a range centered around 108.8. Meanwhile, EUR/USD is also trading sideways and is currently attempting a corrective decline around the 1.197 level.
Today’s schedule includes the German Consumer Price Index at 3:00 PM, the French Consumer Price Index at 3:45 PM, Turkish home sales at 4:00 PM, the Turkish Central Bank’s policy rate at 8:00 PM, U.S. initial jobless claims, retail sales, the New York Fed Manufacturing Index, and the Philadelphia Fed Business Outlook Survey at 9:30 PM, and U.S.Industrial Production, at 12:30 AM: U.S. Bostic (President of the Atlanta Fed) remarks, and at 3:00 AM: U.S. Daly (President of the San Francisco Fed) remarks. We will closely monitor today’s economic data releases to carefully assess whether any imbalances in currency strength or weakness emerge.
