What you need to know on Monday April 5:
Risk -on resumed financial markets on Friday, as the United States added 916K new jobs in March, while revising upwards the figures for January and February. Stock markets were closed in the middle of Good Friday, but DJIA and S&P futures surged into uncharted territory. Yields on US Treasuries rose, with the yield on the benchmark 10-year note standing at 1.71% on Friday.
Most Asian and European markets will remain closed on Monday, in an extension of the Easter. US markets will operate normally.
EUR / USD settled at 1.1760, maintaining its bearish position. The pound managed to post a modest advance despite the strength of the dollar supported by optimal US employment data, but its upside potential is limited. The pair settled around 1.1830.
Over the weekend, the UK reported that more than 5 million people were receiving their second dose of a vaccine, meaning roughly 10% of the population is now protected.
There was no activity around gold and oil on Friday as due markets were closed.
Commodity-related currencies have come under slight pressure, the bullish tone of the shares partially offset the strength of the greenback. USDCAD settled at 1.2570, while AUD / USD ended the week around 0.7600. The latter is about to confirm a head and shoulder formation and could drop over 400 pips in the coming days.
XRP price prediction: Ripple braces for 73% bullish rally