The US dollar is cautiously bullish; XAUUSD is nervously stable; EURUSD stays mildly bearish; Bitcoin touched $80,000 on cautious optimism.
- The US dollar has remained steady after the new plan for Hormuz was announced.
- XAUUSD trades below $4,600 amid elevated oil prices and geopolitical uncertainty.
- EURUSD looks weaker relative to the US dollar.
- April has become the best month for Bitcoin so far this year.
FX snapshot
XAUUSD
Gold is likely to consolidate near the $4,600 level, reacting to the current events.
EURUSD
The ECB left the rates unchanged, but is closer to policy easing.
BTC
The asset tested the $80,000 resistance and digests the reached level.
Market sentiment
This morning feels like a careful tug-of-war between the US economy’s resilience and demand for safe-haven assets. The market now isn’t about making sharp moves but testing convictions. Basically, it is within a “not convinced” stance. Not fully convinced about rate cuts, not expecting a deeper recession either, and definitely not pricing in endless growth.
