EUR / USD
Today, during the Asian session, the EUR / USD pair is moderately declining, correcting after active growth last Friday and an uncertain start of trading this week. The euro is consolidating below 1.2100 again and is awaiting new drivers to continue the upward rally. However, the market situation remains ambiguous, and in the event of strong macroeconomic statistics from the United States, the trend may change in the short term. German statistics released on Monday were mixed. Thus, the index of business optimism from IFO for April rose from 96.6 to 96.8 points, which turned out to be significantly worse than market expectations of 97.8 points. The indicator for assessing the current situation added one point and reached 94.1 points, while forecasts assumed its growth to 94.4 points. The index of economic expectations for the same period decreased from 100.3 points to 99.5 with the forecast of 101.3 points.
GBP / USD
Today during the Asian session, the GBP / USD pair is trading in a multidirectional manner, consolidating after a moderate increase the day before, which was partly due to the appearance of weak US macroeconomic statistics. The volume of orders for durable goods in the United States in March increased by 0.5% m / m after falling by 0.9% m / m last month. Analysts’ forecasts assumed growth of the indicator by 2.5% m / m. Orders for capital goods excluding the defense sector for the same period rose 0.9%, which also turned out to be significantly worse than market expectations of 1.5% mom. Investors are preparing to publish the minutes of the US Federal Reserve meeting on Wednesday. Despite the fact that no changes in monetary policy are expected from the regulator, the department is reaching the threshold when it is necessary to decide on a strategy for its smooth tightening.
NZD / USD
Yesterday, the NZD / USD pair was actively growing, having renewed local maximums since March 18 amid the publication of not the most confident macroeconomic statistics from the USA. Today’s Asian session is characterized by a correctional decline, and the price is once again preparing to test the 0.7200 level for a breakdown downward. Bidders expect the publication of the final minutes of the US Federal Reserve meeting on Wednesday, hoping that they will help determine the prospects for the regulator’s monetary policy for the near future. Key statistics from New Zealand will appear only on Thursday, when the March data on the dynamics of imports and exports, as well as the index of business optimism from the country’s Reserve Bank are released.
USD / JPY
Today, during the Asian session, the USD / JPY pair is actively growing, updating local highs since April 20. After a protracted downtrend in the short / medium term, the dollar is finally attempting an upward correction. Technical factors are the reason for the appearance of “bullish” dynamics, while investors expect the publication of the final minutes of the US Federal Reserve meeting next Wednesday. On Tuesday, the Bank of Japan announced its decision on rates. As expected, the regulator kept the key interest rate at -0.1%, and also left unchanged the size of the quantitative easing program, trying to keep the growth of the yield on 10-year notes. However, some signal for the market was that the rate decision was not made unanimously.
XAU / USD
Today during the Asian session, gold prices are consolidating near 1780.00 after a moderate increase the day before, which allowed the instrument to slightly regain its losses at the end of last week. The dynamics of the exchange rate is stabilizing on the eve of the beginning of the two-day meeting of the US Federal Reserve, which will end with the publication of the final minutes and the decision on rates on Wednesday. Although the market is confident in maintaining the current monetary policy, comments from officials will be very important given the strong recovery in the US economy and rapidly rising inflation. In particular, the regulator may start with a gradual reduction in the volume of the quantitative easing program.
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