Forex Market Report, 1st of April 2019

The U.S. Dollar started Friday’s session lower as investor began to move to less risky assets but rebounded before the end of the session with the support of positive economic data, mainly the growth in new home sales which was 7.5 percent better than expected.

The U.S. Dollar Index which measures the strength of Greenback against a basket of six major currencies finished the session at 96.83.

Over in Europe, the single currency fell on Friday against the U.S. Dollar as fears about a global economic slowdown expanded. EURUSD closed the session at 1.12167.

Meanwhile, the Sterling fell on Friday’s session after lawmakers rejected the U.K. Prime Minister Theresa May’s Brexit deal for the third time. GBPUSD closed the session at 1.30360.

Regarding Safe-havens, the Swiss Franc rose a little against the U.S. Dollar to close Friday’s session at 0.99513 USDCHF. On the other hand, the Japanese Yen fell against the Greenback to settle at 110.6608 USDJPY.

Gold prices rose on Friday against the U.S. dollar as fears from global economic slowdown made investors think about placing money in more safe-haven assets. The precious metal ended the session at 1291.8.

Meanwhile, the Canadian Dollar rose against the U.S. Dollar on Friday boosted by solid economic data. The Canadian economy grew by 0.3 percent in January, beating analysts’ forecasts and reversing recent drops as the construction and manufacturing sectors improved. The USDCAD closed the session at 1.33477.

Over in Asia, the Aussie Dollar rose against the U.S. Dollar to finish Friday’s session at 0.70946.

Cryptocurrencies advanced in Friday’s session as Bitcoin, Ethereum, and Litecoin rose against the U.S. Dollar to settle at 4057.1 BTCUSD, 140.95 ETHUSD, and 54.49 LTCUSD respectively.

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