The Greenback rose at last week’s trading session, ignoring disappointing data from the U.S. and the geopolitical tension in the Middle East. The U.S. dollar rose last week, however, Job growth has slowed sharply in the US, with just 98k jobs added in March. The unemployment rate fell to 4.5% vs. 4.7%.
USD will be strongly supported afterWilliam C. Dudley, President of the Federal Reserve Bank of New York was quoted saying that the Federal Reserve might be avoiding in the future raising interest rates at the same time that it begins the process of shrinking its $4.5 trillion bond portfolio, prompting only a "little pause" in the central bank's rate hike plans. Meanwhile,the Greenback is awaiting Yellen’s Speech, which will be held later on today.
Gold prices pared its Friday’s gains, after touching its highest levels in five months. The yellow metal settled at $1,254 in anticipation of important data releases. The precious metal could trade widely during the next period due to geopolitical tension in the Middle East and The French election.
The Sterling pound declined further after Britain's industrial production, which accounts for 15% of the UK economy, declined by 0.7% in February. Technically, Cable could trade under pressure and re-test $1.24 levels during the day.
Oil prices recovered due to uncertainty over the Syrian conflict as the United States fired 59 Tomahawk cruise missiles at Syria. Technically, Oil prices could hit new highs during the week due Uncertainty spread across the Middle East.
The most important economic events:
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