Investors Assess Economic Reports. Trading Activity Is Low due to Good Friday

The US dollar strengthened yesterday against a basket of major currencies amid the publication of optimistic economic reports. Thus, core retail sales index rose by 1.2% in March, while experts expected growth by 0.7%. The volume of retail sales increased by 1.6% compared with market expectations at 0.9%. The number of initial jobless claims dropped to 192K instead of 205K. However, Philadelphia Fed manufacturing index counted to 8.5 in April instead of 10.4. The dollar index (#DX) closed the trading session in the green (+0.49%).

The euro weakened against the US dollar after the release of weak statistics from the Eurozone. German manufacturing PMI fell to 44.5 in April instead of 45.0. Markit composite PMI counted to 45.8 in April and was worse than the expected 47.9.

The British pound weakened against the US currency despite the publication of optimistic economic data. Retail sales rose by 1.1% in March, while experts expected a decline by 0.3%. The British pound is under pressure due to uncertainty on the Brexit issue. Positive economic reports were published in Canada. Thus, core retail sales index rose by 0.6% in February instead of the expected growth by 0.2%. Today, the financial markets of most countries are closed due to the Easter holidays. Volatility and trading activity in the markets can be low.

The "black gold" prices have become stable near annual highs.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.20%), #DIA (+0.39%), #QQQ (+0.13%).

The 10-year US government bonds yield is at 2.56-2.57%.

The news feed for 2019.04.19:

- Statistics on the real estate market in the US at 15:30 (GMT+3:00).

by JustForex, 2019.04.19

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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