{"id":1048,"date":"2021-05-04T16:33:28","date_gmt":"2021-05-04T19:33:28","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1048"},"modified":"2021-05-04T16:33:33","modified_gmt":"2021-05-04T19:33:33","slug":"standing-in-the-1-20-region-in-the-first-sessions-of-may-the-euro-was-beingtraded-down-on-tuesday-while-investors-await-several-data-thisweek-including-retail-sales-in-the-eurozone","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/05\/04\/standing-in-the-1-20-region-in-the-first-sessions-of-may-the-euro-was-beingtraded-down-on-tuesday-while-investors-await-several-data-thisweek-including-retail-sales-in-the-eurozone\/","title":{"rendered":"Standing in the 1.20 region in the first sessions of May, the euro was beingtraded down on Tuesday, while investors await several data thisweek, including retail sales in the Eurozone…"},"content":{"rendered":"\n

Victor Camargo
05\/04\/2021<\/em><\/p>\n\n\n\n

Standing in the 1.20 region in the first sessions of May, the euro was beingtraded down on Tuesday, while investors await several data thisweek, including retail sales in the Eurozone, foreign trade figures from theGermany and France, as well as industrial production data and the payroll report ofUSA.\u00a0German retail sales increased 7.7% in March, the highest sinceMay 2020 and well above expectations of 3%, after the relaxation of somequarantine measures.\u00a0Last week, GDP figures showed that the zoneeuro entered a double-dip recession in the first quarter, withGermany, Italy and Spain falling again in contraction territory and Francegrowing again.\u00a0At the same time, consumer prices in the bloc rose 1.6%in April, the biggest increase in two years.\u00a0The euro recorded a monthly increase of 2.5% in Aprilagainst the dollar, supported by the optimism of a strong economic recovery andsigns of accelerating the rate of vaccination in Europe.<\/p>\n\n\n\n

Double-dip recession happens when an economy returns to recession after abrief recovery.\u00a0It is also known as a recession in W. They are rarer thanto happen.<\/p>\n\n\n\n

In contrast, the DXY index managed to recover and approached the 91.40 level by thefirst time in almost two weeks, after falling by more than 2% in the previous month.\u00a0THEchange in sentiment was triggered by the increase in coronavirus cases inworldwide, with India reporting more than 300,000 new infections by the tenthsecond consecutive day.\u00a0In addition to the increased demand for the safe haven of the dollar, theof the USA continues to recover more quickly which has created space for aadditional bullish momentum.\u00a0The US trade deficit jumped to a record high inMarch amid strong domestic demand, which is attracting imports, reinforcingthe view that US economic activity is recovering faster thantheir G10 peers.\u00a0A sharp increase in private spending and a drop in new ordersunemployment insurance in one year also reinforced this view.\u00a0In additionTreasury Secretary Janet Yellen said today that interest rates could have torise to prevent the economy from overheating.<\/p>\n\n\n\n

Falling, gold returned to the region of USD 1740 an ounce, reversing dramaticallyafter testing its strong resistance level at USD 1800 earlier this session, atime that a dollar recovery scared investors of the precious metal.\u00a0The metal ishighly vulnerable to US interest rates, which increase the opportunity costto remain gold without income and boost the dollar.<\/p>\n\n\n\n

The main North American indices were traded in a drop today, with companiesof technology giants leading the losses.\u00a0Even so, the indicesremained at record levels, supported by a strong balance sheet season, aFederal Reserve dovish and President Biden’s huge stimulus plans.\u00a0In thecorporate, Pfizer and ConocoPhilips reported better quarterly results than theexpected.\u00a0United States Steel also rose after Credit Suisse raised itsstock to outperform underperforming.\u00a0Meanwhile, economic data showed that the US trade deficit and imports hit record highsin March, while the ISM PMI survey showed yesterday that the manufacturing sectorgrew less than forecast in April.<\/p>\n\n\n\n

In Europe, the indices were under strong selling pressure, with the DAX 30 closingdown more than 2%, its worst day since December 2020, pulled by strongsales of shares of the company Infineon, while concerns about the scarcity ofsemiconductor increases.\u00a0The company’s CEO warned that production in Austin did notcould return to pre-pandemic levels by June and that it would not be possiblemake up for lost production in general.<\/p>\n\n\n\n

Source:https:\/\/wintrademarkets.com\/<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Victor Camargo05\/04\/2021 Standing in the 1.20 region in the first sessions of May, the euro was beingtraded down on Tuesday, while investors await several data thisweek, including retail sales in the Eurozone, foreign trade figures from theGermany and France, as well as industrial production data and the payroll report ofUSA.\u00a0German retail sales increased 7.7% in […]<\/p>\n","protected":false},"author":2,"featured_media":930,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1048","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hft"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1048"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1048\/revisions"}],"predecessor-version":[{"id":1049,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1048\/revisions\/1049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/930"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}