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EBC Daily Snapshot Apr 16, 2024

EBC Forex Snapshot 16 Apr 2024 The dollar rose to a five-month high on Tuesday following consumption figures. US retail sales rose 0.7% in March from the prior month, beat the 0.4% increase that economists projected. The Australian dollar struggled around its lowest since mid-November although data showed China’s economy grew faster than expected in Q1. Fitch cut its outlook on the sovereign credit rating to negative last week. Investors have increased their allocations to stocks and commodities and dumped bonds, the most bullish since January 2022 –a good sign for commodity currencies, BofA’s monthly fund manager survey showed. EBC Online Trading Support Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Online Trading Support or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-16 09:38:53 (GMT)

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