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USD Pared its Gains

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US inflation numbers fell in March, core inflation is slowing, suggesting little urgency for a cautious Federal Reserve to raise interest rates in the near term. USD index touched levels of 94.95.

EUR traded above $1.1260 vs. USD, thanks to soft US data. The pair could settle above $1.12 during the end of the week. JPY declined to 109.50 levels, affected by BOJ’s Kuroda.

Gold declined to $1,225 as the US applications for unemployment drop to its lowest levels since 1973. The precious metal could settle above $1,208 by the end of the week.

GBP declined vs. USD and traded at $1.4150, negatively affected by the latest poll carried out for The Times; revealed that public faith in UK Prime minister has dropped by 8 points since February to 21% and the “Leave” or “Remain” camps are both at 39%. On the other hand, the BOE warns the EU exit could hurt the economy.

The most important economic events:

  • USD U. of Michigan Confidence (APR P): (GMT 16:00) important – Forecast – (92.0) – Previous (91.0) 

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The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

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