Last week was quieter than expected. Initial fears of a full-blown banking crisis seemed to subside with Deutsche bank and US regional bank contagion fears all but gone for now. The US Dollar had a relatively quiet week with month / quarter end flows dominating.
Both Euro and GBP traded sideways. Eurozone inflation is now moving to the downside which will cap any upside potential for the single currency. GBP inflation does remain high with a small surprise in Q4 GDP which may force the BoE to continue to act.
Commodity currencies had a better week as risk on dominated the mood. AUD and NZD were up against the USD while JPY was the weeks loser falling around 1.5% vs the US Dollar.
Oil continued its volatile journey gaining nearly 10% as the risk on mood took hold in commodities. WTI closed around $75.50.
The week ahead should be quieter as we enter Q2. The banking crisis seems to be behind us for now and as long as that remains then we could see a further risk on rally.
Data for the week we have Non-Farm Payrolls to close the week along with the long Easter Weekend.
Weekly Majors Market Performance
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The post Banking Fears Subside first appeared on trademakers.
The post Banking Fears Subside first appeared on JP Fund Services.
The post Banking Fears Subside appeared first on JP Fund Services.
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
