Should We Keep an Eye on the Direction of the U.S. Dollar?
15.04.2021
- BTC Is Once Again Approaching $70,000
- Turkey: Policy Rate/Statement Release
Yesterday, the Dow Jones Industrial Average traded in positive territory. Although cryptocurrency exchange Coinbase went public on the Nasdaq, Coinbase’s closing price fell about 14% from its opening price, and the Nasdaq also closed at 13,857, down 0.99% from the previous day.Gold is trading sideways around $1,739, while crude oil has rebounded 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 the USD/JPY pair is trading in a range centered around 108.8. Meanwhile, the EUR/USD pair is also trading sideways and is currently attempting a corrective decline near 1.197.
Today’s schedule includes the German Consumer Price Index at 15:00, the French Consumer Price Index at 15:45, Turkish home sales at 16:00, the Turkish Central Bank (TCMB) policy rate at 20:00, U.S. initial jobless claims and retail sales at 21:30,the New York Fed Manufacturing Index, and the Philadelphia Fed Business Outlook Index at 3:30 PM; U.S. Industrial Production at 10:15 PM; remarks by Bostic, President of the Atlanta Fed, at 12:30 AM; and remarks by Daly, President of the San Francisco Fed, at 3:00 AM.We will closely monitor today’s economic data releases to carefully assess whether any imbalances are emerging in the currency market.
