EUR/USD And GBP/USD See Upside Potential – Investing.com UK

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

Welcome back at the desks after a long weekend. data released on Good Friday smashed all market expectations and came in at 916k which was the strongest job gain in seven months. However, did not surprise to the upside and given the low volatility environment during the Easter holiday, there were no major market movements. The rapid healing of the U.S. labour market could lead to a stronger U.S.

dollar in medium-term time frames as market participants will slowly shift their focus towards a change in the Fed’s future interest rate path. Investors will also assess the impact of the Biden administration’s proposed increase to the corporate tax rate, fearing that higher taxes will hinder the economic recovery. Both and started the new week on a positive note and further bullish momentum could be ahead. Let’s take a look at the technical picture:GBP/USDThe British pound has generally strengthened against its counterparts in the first quarter as the market...read more...