Review of the dollar, euro, pound, yen, qiwi and gold prices for April 29, 2021


The European currency is trading with mixed dynamics against the US dollar during today’s Asian session. Market activity remains low after the euro reacted with growth to the publication of the final minutes of the US Federal Reserve meeting. As expected, the main parameters of monetary policy remained unchanged, but the regulator did not clarify its plans for the near future. The growth of inflation was again called by the representatives of the US Federal Reserve as a temporary phenomenon, while noting the success in the labor market. Investors are now focusing on statistics from the eurozone on the level of business sentiment in April. In addition, during the day, Germany is to publish April data on the labor market and the dynamics of consumer inflation.


The British pound strengthened slightly against the US dollar in trading this morning session, testing the 1.3950 mark for a breakdown upward. The British currency received a new impetus to growth after the publication of the minutes of the US Federal Reserve meeting the day before, however, there were no noticeable changes in the instrument’s dynamics. The market turned out to be quite ready for the regulator to maintain its previous wait-and-see attitude, despite some signals for a possible reduction in the quantitative easing program in the foreseeable future. Today, investors will focus on a block of macroeconomic statistics from the United States on GDP dynamics for the 1st quarter of 2021, as well as updated statistics on the dynamics of applications for unemployment benefits.


The New Zealand dollar is flat against the US currency during today’s Asian session, holding near the 0.7250 level. The upward momentum, which had formed the day before after the publication of the cautious minutes of the US Federal Reserve meeting, quickly faded away. Macroeconomic statistics from New Zealand released today gave the instrument little support. Thus, the forecast of business activity from ANZ in April rose from 16.4% to 22.2%, which turned out to be better than the neutral forecasts of analysts. The business optimism index from ANZ for the same period has strengthened from -8.4 to -2 points.


The US dollar is flat against the Japanese yen in today’s Asian session, consolidating around 108.60. The day before, the instrument made an attempt to grow and managed to update local maximums since April 14, however, the published minutes of the US Federal Reserve meeting somewhat disappointed investors, after which a wave of dollar sales followed. The American regulator did not disclose its plans for a gradual tightening of monetary policy and chose to maintain the status quo, noting only the successes in the labor market. However, many analysts agree that it is not worth expecting a reduction in the quantitative easing program before the 4th quarter of 2021. Today in the United States will publish statistics on the dynamics of GDP for the 1st quarter of 2021, which is likely to support buying interest in the American currency. Noteworthy data from Japan will appear only on Friday, when the April report on consumer inflation, as well as March data on the dynamics of industrial production and the unemployment rate, will be released.


Gold prices are showing modest gains during today’s Asian session, building on the bullish momentum that had formed the day before. The instrument managed to recover yesterday, responding to the publication of the neutral minutes of the US Federal Reserve meeting. As expected, the regulator kept the main parameters of the monetary policy unchanged and did not disclose its plans regarding the prospects for the gradual curtailment of the quantitative easing program. Additional support for gold is provided by a rather difficult epidemiological situation in certain regions of the world. First of all, the markets are concerned about the surge in the incidence of diseases in India and Japan, which are forced to introduce new restrictive measures, which will negatively affect the pace of global economic recovery.

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