Forex market reviews

The fact that the Easter holidays have just been didn’t mean that the markets were destined to be boring with low volatility. Friday brought us interesting trading opportunities and Monday, with it’s sweet, technical movements, was just as good. Speaking of the fundamentals, we’ve got some old/new attractions on the horizon, with renewed tensions between Iran and the US, which could have a huge impact on the relations with China (oil) and EU (more friendly approach towards Persians). In this environment, USD is gaining strength and on many instruments we got a proper signal to buy the USD.

On Monday the 22^nd of April, trading on the euro closed slightly up. An upwards correction restored the pair to 1.1262. As the Easter holidays continued, currency markets got a boost from developments in the oil market. Brent oil rose by 3.5% to 74.50 USD per barrel. This surge was caused by reports that Washington is set to stop providing exemptions from Iranian oil sanctions. This news also pushed the Canadian dollar up, bringing a few other currencies with it.

Most of the majors closed last week down against USD. The Swiss franc fell by 1.15%, the Kiwi dollar by 1.12%, the pound by 0.55%, the euro by 0.49%, the Canadian dollar by 0.49%, and the Aussie dollar by 0.30%. Only the Japanese yen gained ground against the dollar with a rise of 0.08%. Over the course of Good Friday, the euro dropped to 1.1226 before recovering to 1.1248.