Last week the markets failed to break out in any direction. With the shorter week for Easter and lack of economic data we ended the week broadly where we started.
Dollar tried to continue its trajectory higher but failed to show any real move by the end of the week US Data came in mixed with GDP higher and Core PCE in line.
Both the Euro and GBP traded in a tight range all week. The lack of any USD moves it meant both continued their sideways move for yet another week. UK GDP came in -0.3% moving into recession territory.
Commodity currencies should have performed better with the Oil rally but again it turned into a quiet week here. Oil has picked up volatility in the last couple of weeks and last week was no different. WTI rallied 3% to close above $83.
Last week was very quiet but this week we see the return of heavy-laden data. We have a large amount of PMI releases as well as Fridays NFP numbers.
Weekly Majors’ Market Performance
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