Forex Market Report, 9th of April 2019

The U.S. Dollar closed Monday’s session lower as recent solid economic data eased worries about a slowdown in global economy, pushing investors to reduce safe-haven positions in the greenback.

In other news, a top White House official said on Monday that they’re making progress in talks regarding the U.S.-China trade war, but the U.S. officials are "not satisfied" about all the issues standing in the way of an agreement to end the trade-war between the world's largest economies.

The U.S. Dollar Index which measures the strength of the Greenback against a basket of six major currencies weakened and finished the session at 96.64.

Over in Europe, the single currency advanced against the U.S. Dollar as investors settled their positions before the European Central Bank meeting this week. EURUSD closed the session at 1.12621.

Meanwhile, the Sterling strengthened on the back of a weak U.S. Dollar as U.K. lawmakers scramble to avoid a no-deal Brexit, and it remains to be seen if the April 12 deadline will be delayed to June 30 as members of Parliament show little to no interest for a second referendum. GBPUSD closed the session at 1.30567.

Regarding Safe-havens, the Swiss Franc rose against the U.S. Dollar to settle at 0.99895 USDCHF. Similarly, the Japanese Yen rose against the Greenback to settle at 111.463 USDJPY.

Gold closed Monday’s session higher against a weak U.S. Dollar and driven by news saying that China has expanded its gold reserves for the fourth-straight month. The precious metal closed the session at 1297.2.

Meanwhile, the Canadian dollar surged against its U.S. counterpart as oil prices hit their highest price this year and economic data showed a 15.8 percent increase in March housing starts. The USDCAD closed the session at 1.33125.

Over in Asia, the Aussie Dollar surged on the back of a weak U.S. Dollar to close Monday’s session at 0.71258 AUDUSD.

Cryptocurrencies were mixed on Monday’s session as Bitcoin and Ethereum advanced to settle at 5234.41 BTCUSD and 179.2 ETHUSD, while Litecoin fell to end the session at 87.02 LTCUSD.

© Copyright 2019 The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.