Juliana Calil
04/20/2021
Highlights
Awaiting the meeting of the European Central Bank’s monetary policy committee, which takes place on Thursday, EURUSD continuesat a rate of appreciation, reaching today highs at 1.2080. The quarterly earnings release season is in full swingsteam and through it the market follows the recovery of the private sector after the pandemic.
The USD gained strength during the afternoon, with the absence of relevant macroeconomic data and falling oil prices.However, there are no signs that the currency will continue to attract investors. The macroeconomic calendar will be empty for bothEurope and the USA tomorrow.
At some point in the near future, the dollar may finally react to the improvement in the macroeconomic numbers seenrecently, but it is too early to say when that moment will come. In the short term, it is reasonable to think that EURUSDcan reach 1.2120 or even 1.2150.
DXY is being traded at the level of 91.2 thousand points, having reached 90.85 at the beginning of the session, the lowest value of thethe past seven weeks. The USDJPY is oscillating close to $ 108.1. The USDCHF of $ 0.9162. Gold is trading at $ 1,777an ounce, and silver at $ 25.8.
The main facts observed by investors at the moment are:
COVID-19
In Spain, health officials said the fourth wave of the disease has finally started to slow down,after many weeks of lockdown.
The European Union signed an agreement with Pfizer / BioNTech yesterday, increasing the contract by 100 million doses.supply of vaccines against COVI-19 to the bloc, totaling 600 million doses in 2021.
MACROECONOMY
Weekly retail sales in the USA (as measured by the Redbook index) showed growth of 13.5% inweek ended April 17, 2021
SHARES
The top 3 US stock indices closed down for the second consecutive day on Tuesday. Atfalls were more pronounced in the sectors most affected by the pandemic, such as those related to travel and leisure. THEJohnson & Johnson and Procter & Gamble exceeded quarterly revenue and profit expectations, as did IBMlast night after the markets closed. Today, Netflix reported earnings per share of USD $ 3.75, abovemarket expectations of USD $ 2.97 dollars. The Spanish IBEX 35 closed with a drop of 2.9%, with the distributor ofEnagas gas report a 22% drop in first quarter earnings and say its net profit in 2021 is expected to fall14%. The German index the DAX 30 closed down 1.6% even with the results of the first quarter of BMWexceeding expectations. The French CAC 40 closed with a 2.01% drop, with Danone reporting a 3.3% drop infirst quarter revenue.
Source: https://wintrademarkets.com/
