What you need to know on Thursday, April 23rd:
- Crude oil prices stabilised after two-days of declines, leading to a recovery in global indexes. The mood improved, although “optimism” is still a too big word to use. Equities closed in the green while government debt yields recovered some ground.
- The greenback was weak throughout the first half of the day but turned higher during the US session. The EUR/USD pair fell to a fresh 2-week low of 1.0802, ending the day not far above this last.
- GBP/USD recovered the 1.2300 level but was unable to extend gains beyond it. AUD/USD also advanced but lacked follow-through as investors remain cautious.
- Coronavirus-related numbers continue to improve just modestly. The re-opening of economies is still more hope than reality. In the meantime, more relief measures are being announced worldwide.
- Despite the positive momentum of high-yielding assets, crude oil prices were up. Spot closed at $1,715.00 a troy ounce and is poised to extend its advance.
- Bitcoin bulls must break above $7000 or face imminent wave of selling
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