What you need to know on Thursday, April 29:
The American dollar fell after the US Federal Reserve announced its latest monetary policy decision. As widely anticipated, the central bank decided to maintain rates on hold, and pledged to maintain QE until “further substantial progress” is achieved on employment and inflation. Chief Powell repeated that it is too early to think about tapering.
US stocks closed in the red, although the S&P posted an intraday record high. Loses were uneven, with the DJIA being the worst performers.
US government bond yields advanced at the beginning of the day but closed with modest losses. The yield on the 10-year US Treasury note peaked at 1.66%, to finish the day at 1.60%.
The EU parliament gave a final vote to the Brexit trade and security deal, with 660 votes in favor and just 5 against it. The now ratified deal provides the framework for London’s new relationship with the 27-member union, despite tensions between both parts persist. The UK has not fully implemented some of the agreements, while the dismal mood is also related to the delayed provision of AstraZeneca vaccines to the Union.
The EUR/USD pair reached a fresh April high of 1.2134, holding nearby. GBP/USD topped 1.3950. Commodity-linked currencies also advanced, with USD/CAD now nearing the 1.2300 threshold.
Gold surged and settled at 1,781 a troy ounce, while crude oil prices also closed the day with gains. WTI settled at $ 63.60 a barrel.
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