JP Morgan plans Bitcoin fund, BTC pops 10%

 

 

MARKET NEWS

 

Bitcoin Price Jumps 9%, Most Since Early March - Coindesk

 

The price increase came amid continuing signs of growing adoption of cryptocurrencies. Hours after the bitcoin price started rising early Monday, CoinDesk reported that investment banking giant JPMorgan could soon launch a bitcoin fund for its deep-pocketed clients.

 

Gold settles higher as traders await Fed meeting - MarketWatch

 

Gold futures kicked off the week with a modest move higher on Monday, recouping just over half what they lost in Friday’s trading session, as traders looked ahead to this week’s meeting of Federal Reserve policy makers.

 

USD/CAD nears 1.24 as the Loonie soars – Forex Live

 

The Canadian dollar was the second-worst performer last week, beating out only the USD. That made no sense given the total change in tone and taper from the Bank of Canada. Today, the Loonie is making up for lost ground as outperforms everything but AUD.

 

British Pound (GBP) Outlook - Positive Sentiment Pushing GBP/USD Higher - DailyFX

 

The deputy governor of the Bank of England, Bill Broadbent, said over the weekend that the UK economy may register ‘very rapid growth over the next couple of quarters’ fuelled by a further rise in consumer spending.

 

Crude Oil Prices Fall as India Worries Overshadow OPEC Expert Meeting – Investing.com

 

Crude oil prices weakened on Monday, amid concerns that the spiralling problems in India will stop the drawdown of global inventories and delay the market’s return to balance. India reported a fifth straight day of record new infections and deaths on Monday.

 

Copper Hits Highest Level Since 2011 as Metals Rally – Bloomberg

 

Copper climbed to the highest in almost a decade as the global recovery from the pandemic extended a rally in metals markets.

 

S&P 500 rises slightly as investors brace for a big earnings week – CNBC

 

The S&P 500 traded slightly higher on Monday as investors geared up for one of the busiest weeks of the first-quarter earnings season. The broad equity benchmark inched 0.2% higher. The Nasdaq Composite climbed 0.6%. The Dow Jones Industrial Average lost 30 points, dragged down by Procter & Gamble, Walmart and Coca Cola.

 

MORE HEADLINES

 

•    OPEC+ Keeps Oil Demand Forecast, but Worried by COVID Surge – US News
•    GBP/USD Price Analysis: Bulls retreat but will be back for more – FX Street
•    Draghi says deal reached with EU on Italy's recovery plan – Reuters
•    MicroVision spikes 32% as the stock becomes the most mentioned name on Reddit's Wall Street Bets in a 24 hour period – Business Insider
•    Any decline in the stock market because of higher capital gains taxes will likely be short-lived, according to Goldman Sachs – Business Insider
•    EU launches legal action against AstraZeneca due to vaccine shortages – CNBC
•    UK economy 'set to grow at fastest rate on record' – BBC

 

ANALYSIS

 

EUR/USD Next 6-12 Month Forecasts – Exchangerates.org.uk
Uncertainty over fundamental drivers has led to increased divergence in forecast expectations.

 

 
WISDOM

 

“When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, there are smart ways to go about it.” – Phil Town

 

CHART

 

USD/JPY – Daily Candlesticks

 

  
Source: GKFX Prime Metatrader 4 

USD/JPY has formed a bullish hammer candlestick pattern at support from a confluence of Fibonacci retracement levels near 107.50. - Prepared by Trading Writers*

 

CALENDAR

*Times in GMT

 

Source: FX Street Economic Calendar

 

Footnotes

 

FX Street Economic Calendar https://www.fxstreet.com/economic-calendar

Investing.com https://www.investing.com/news/commodities-news/crude-oil-prices-fall-as-india-worries-overshadow-opec-expert-meeting-2485187

FX Street https://www.fxstreet.com/news/gbp-usd-price-analysis-bulls-retreat-but-will-be-back-for-more-202104261821

Reuters https://www.reuters.com/world/europe/draghi-says-deal-reached-with-eu-italys-recovery-plan-officials-2021-04-25/

BBC https://www.bbc.co.uk/news/business-56885457

Bloomberg https://www.bloomberg.com/news/videos/2021-04-26/copper-hits-highest-level-since-2011-as-metals-rally-video

Coindesk https://www.coindesk.com/bitcoin-price-jumps-most-since-early-march

MarketWatch https://www.marketwatch.com/story/gold-edges-lower-as-traders-await-fed-meeting-11619440649?mod=markets

Business Insider https://markets.businessinsider.com/news/stocks/stock-market-outlook-higher-capital-gains-taxes-wont-derail-equities-2021-4-1030347269

CNBC https://www.cnbc.com/2021/04/26/eu-launches-legal-action-against-astrazeneca-due-to-vaccine-shortages.html

CNBC https://www.cnbc.com/2021/04/25/stock-market-futures-open-to-close-news.html

Daily FX https://www.dailyfx.com/forex/market_alert/2021/04/26/British-Pound-GBP-Outlook-Positve-Sentiment-Pushing-GBPUSD-Higher.html