Goldman Sachs sees upside for the euro
The euro spent the latter part of the week flirting with 1.2000 but unable to break above.
Analysts at Goldman Sachs believe that it's only a matter of time until it breaks through and runs to 1.2500. They've raised their three-month EUR/USD target to that level from 1.2100.
Non-trend transitions to Trend. Make that simple phrase a part of your trading mindset.
Learn how to catch more trends by following that simple trading mantra
Many traders look at sideways markets as a time to fall asleep and ignore that market or specific currency pair. In reality, there comes a time in the sideways markets, where you need to become uber aware of the price action. The reason? Non-trend transitions to trends.
ForexLive Americas FX news wrap: Cable powers higher in outside reversal
Forex news for North American trade on April 16, 2021:
- Gold up $11 to $1775
- US 10-year yield up 1 bps to 1.58%
- WTI crude oil down 34-cents to $63.12
The impressive reversal in cable on Friday was the main event in the FX market. It slumped down to 1.3717 in Asia but turned around and
CFTC Commitments of Traders: Little changes in the futures net position data for the week
Weekly forex futures positioning data for the CFTC for the week ending April 13, 2021
- EUR long 67K vs 68K long last week. Longs trimmed by 1K
- GBP long 26K vs 20K long last week. Longs increase by 6K
The major earnings releases for the week starting April 19
The banks had stellar earnings this week, to kick off the current earnings season. What is scheduled for next week? Below is a snapshot of some of the major releases.
Cuban leader Raul Castro confirms he will step down this weekend
Castro had long planned to step down in 2021
In 2016, Raul Castro said he would step down in five years but in a country that's been led by the same family for six decades, that certainly wasn't take for granted.
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