Here is what you need to know on Wednesday, April 15th:
- A better than expected Chinese Trade Balance spurred risk-appetite this Tuesday that extended throughout the day. The macroeconomic calendar was scarce in other major economies. The dollar was the worst performer once again.
- Continued improvement in coronavirus-related numbers, mainly from Europe, underpinned the sentiment. Nevertheless, most lock-downs have been extended into early May. Hopes that economies will slowly resume activity don’t grant an economic recovery in the foreseeable future.
- The EUR/USD pair approached 1.1000 while the GBP/USD pair re-took the 1.2600 level, and it was all about dollar’s weakness.
- Commodities were once again the stars of the day. Gold soared to levels last seen in October 2012, with the troy ounce reaching $1,747.45.
- Crude oil prices resumed their declines, with the US benchmark, WTI, nearing $20.00 a barrel amid absent demand with the world paralyzed by the coronavirus crisis.
- Crypto Today: Bitcoin must break $7000 again for any chance at recovery
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