Heading into the end of April, there was a lot to look forward to: the plethora of month-end economic data, earnings, Central Bank meetings, and the recent collapse of prices. However, at the end of the week, little of it mattered. The data was bad. Earnings were ok, with little guidance. Central banks are on “wait and see” mode. However, most of this was priced in the market already. Oil did bounce 12%, however, that is minor relative to the price, near $19.50. This week will be about the reopening of some US states. This reopening will set the bar for reopenings to come. The week culminates with on Friday.
As we head into the first full week of May, the US Dollar () has traded lower for 6 consecutive days from a high of 100.32 down to 98.7. It closed near 99.00 on Friday, which was a decline of 1.3% for the week and its lowest level since April 15th. As a result, was up 1.45% last week and closed just under 1.1000. It was a nice week for cryptocurrencies as, gained…
