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GBP/USD recovers early lost ground, jumps to 1 3800 neighborhood

Apr 16, 2021 12:41 GMTFXStreet News GBP/USD reversed an intraday dip to the 1.3715 region and refreshed daily tops in the last hour. The USD struggled to preserve its intraday gains despite a strong rebound in the US bond yields. The risk-on mood further undermined the safe-haven USD and provided a goodish lift to the pair. The GBP/USD pair rallied over 70 pips from the early European session through and jumped to fresh daily tops, around the 1.3785-90 region in the last hour. The pair attracted some dip-buying on the last trading day of the week and quickly recovered its early lost ground to the 1.3715 region. The US dollar struggled to preserve its modest intraday gains, instead witnessed a modest pullback from higher levels. This, in turn, was seen as a key factor that assisted the GBP/USD pair to regain traction.

Preliminary April 2021 Michigan Consumer Sentiment Improves

Preliminary April 2021 Michigan Consumer Sentiment Improves The preliminary University of Michigan Consumer Sentiment for April came in at 86.5, up from March s 84.9, up from February s 76.8, and up from January s 79.0. The Econoday consensus range was 88.1 to 92.5 (consensus 89.0) Surveys of Consumers chief economist, Richard Curtin, makes the following comments: Consumers in early April reported surging economic growth and strong job gains due to record stimulus spending, low interest rates, and the positive impact of vaccinations. The Sentiment Index rose to its best level in a year on the strength of recent gains in current economic conditions, while future economic prospects remained unchanged from March. This is opposite of the usual pattern over the past fifty years, when recoveries were paced by larger and earlier gains in expectations. The strength in current economic conditions reflects much larger than usual stimulus payments during the past year, and much larger than

USD/CHF flirts with 200-DMA support, seems vulnerable near multi-week lows

4/16/2021 9:53:21 AM GMT | By Haresh Menghani USD/CHF came under some renewed selling pressure on Friday and refreshed multi-week lows. The USD struggled to capitalize on its intraday gains despite a strong pickup in the US bond yields. The prevalent risk-on mood undermined the safe-haven CHF and helped limit any further losses. The USD/CHF pair dropped to fresh six-week lows, around the 0.9180-75 region during the early European session, albeit recovered few pips thereafter. The pair was last seen hovering around the 0.9200 mark, still down 0.30% for the day. Following the previous day s directionless price moves, the pair met with fresh supply on the last trading day of the week and seemed rather unaffected by a modest US dollar strength. The USD remained supported by Thursday s upbeat US economic data, which indicated that recovery is well on track, and got an additional boost from a solid bounce in the US Treasury bond yields.

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