Apr. 28: American Session
Tatiana Norkina, analyst at FBS
On the thershold of the next meeting of the U.S. FRS Board, to be held one of these days, the U.S. dollar weakened sharply on Monday. The dollar index has dipped to the 79.60 area today, but has been trying to recover in the past few hours, returning to the 79.75 level (-0.12%). At the same time, stock trading has opened with a significant rise: DJIA is adding about 0.80%, S&P500 - 0.60%. This was a market reaction to the positive data on the existing homes pending sales (3.4% instead of the forecasted 1.0%).
The EUR/USD currency pair is correcting in the 1.3850 area, after today's growth to 1.3875, while GBP/USD has fallen to the 1.6815 mark, having formed a new high for the past four years - 1.6850.
The USD/CHF pair has formed a low in the 0.8770 area today, but has corrected to the 0.8800 figure by now. The USD/JPY pair has recovered from the last week's decline, returning to the 102.60 level.