Here is what you need to know on Thursday, April 16th:
- Risk aversion run throughout the first half of the day, fueling dollar’s demand. The greenback surged against all of its major rivals as global equities collapsed. Wall Street recovered from daily lows but still closed in the red.
- There were several factors behind this return of the dismal sentiment: the earnings seasons started with big names reporting substantial declines in revenues. The IMF warned the coronavirus-related recession could be the worst since the Great Depression. Pandemic numbers were worse than those of the previous days, probably as a result of Easter holidays interfering. Lifting lock-downs and resuming economic activity is still out of sight.
- EUR/USD recovered from its daily low and settled above 1.0900. GBP/USD also bounced and finished the day around 1.2550.
- Safe-havens yen and gold eased just modestly against the greenback, despite the risk-averse environment.
- Oil prices remained under selling pressure, amid record lows demand.
- Crypto Today: Bitcoin edging towards another potential drop
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