Trading | 5 months ago
In the weekly market review segment, we discuss about the latest happening in the European, Asian and American market. We also summarize market performance and market moving news from the prior week.
European Market Review
News updates on the vaccination rates had influenced the European market. Inflation figures for Germany France and Italy were also released on Friday. At the time of writing, the EUR rose by 0.14% to $1.1981 against the US dollar. One can expect a small break out in EUR/USD pair on Monday as the pair is currently trading at an important support level.
US Market Review
The U.S. dollar index, which measures the dollar against the six major currencies, fell by 0.01% on Friday. Optimistic retail sales data and an impressive jobless claims report did not provide the enough support to the dollar this week. The US dollar may struggle to make positive gains against the Euro in the short term.
UK Market Review
There were no major economic news or data report for the pound in this week. Building permit and housing start figures had minor impact on the market. As a result, the GBP/USD has been trading in the range. At the time of writing, the Pound rose by 0.37% to $1.3836 against the U.S. dollar.
Asian Market Review
According to the data reported by the Chinese government, Chinese economy expanded by 0.6% based on quarterly basis in the first quarter. Industrial production also increased by 14.1% in March based on yearly basis. fixed asset investment rose by 25.6% and the retail sales rose by 34.2%. As a result of these optimistic figures, the Chinese yuan rose by 0.11% against the US dollar. It’s a relatively quiet day for USD/JPY. At the time of writing, the Japanese Yen was down by 0.16% to ¥108.73 against the U.S Dollar.
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