The U.S. dollar declined materially yesterday as risk appetite increased after Emmanuel Macron's victory in the first round of the French presidential election on Sunday. Meanwhile, Nasdaq index hit 17 years high after reaching 6,000. The index was being driven by the US technology companies.
The Greenback fell as the U.S. consumer confidence declined to 120.3, however; New U.S. single-family home sales rose to an eight-month high last month. Markets are awaiting the initial reading of the U.S. First-quarter growth as it could grow by 1.1%.
Gold declined yesterday to the support of $1,263. Technically, the yellow metal is awaiting the Gross Output of the U.S. as a higher than expected reading should be taken as bearish for the Gold and could hit $1,244.
Euro rose yesterday vs. a basket of major currencies as pro-business Emanuel Macron could win the French Presidential election final round. The common currency hit $1.0930 yesterday and could settle above $1.10.
Oil prices settled slightly higher yesterday, ending a six-session losing streak amid doubts that OPEC can lead the market back. U.S. crude settled below $50 in anticipation of U.S. crude-oil stocks, which could show a decline of 1.5 million barrels.
The most important economic events:
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