Dollar margins higher, Bitcoin gets Tesla boost, Fed tension rises

Here’s what you need to know on Tuesday April 27th:

Markets have rallied, but the dollar gained some ground in tight trading ahead of Wednesday’s Fed decision. Tesla’s Bitcoin company supports cryptocurrencies. US consumer data scrutinized after disappointed investment numbers. Vaccine and virus developments also play a role.

The The US dollar has risenwith EUR / USD trading below 1.21 and GBP / USD below 1.39. Rising US Treasury yields have replaced worries about keeping the greenback higher. Durable goods orders for March fell short by a slight 0.5% increase, as opposed to previous numbers for last month that beat estimates.

Tuesday’s economic calendar includes that of the Conference Board Consumer confidence Measuring device for April and apartment numbers. Investors already have the all-important decision of the Federal Reserve in mind on Wednesday.

Chairman Jerome Powell and colleagues will find it more difficult to defend loose monetary policy amid strong labor demand and mounting price pressures. Volkswagen is the youngest car manufacturer to stop production due to the global shortage of chips.

Teslas The result exceeded estimates at 93 cents per share, with cost reductions compensating for lower car prices. Elon Musk’s company also announced that it had raised $ 100 million from its Bitcoin investment, in excess of standard spending. The CFO added that “there are many reasons to be optimistic” about the cryptocurrency. Bitcoin trades at around $ 54,000.

Vaccinations: The US announced that it would distribute up to 60 million doses of excess AstraZeneca vaccinations to other countries, especially India. The South Asian giant continues to suffer from a severe wave of COVID-19. In western countries, infections are falling as vaccinations continue.

The Bank of Japan As expected, the interest rate remained unchanged at -0.10% and improved the growth and inflation forecasts.

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