Forex Today: Caution kept majors ranging

FXStreet Team FXStreet

Here is what you need to know on Tuesday, March 31st:

The American dollar posted a modest intraday advance against major rivals, although ended the day with uneven strength, and far from recovering its bullish tone. The EUR/USD pair neared the 1.1000 figure but finished the day close to 1.1050.
GBP/USD spent the day consolidating around 1.2400 with the Pound refusing to give up.
The Japanese yen appreciated although it lost some ground ahead of the close, as Wall Street closed in the green. US Treasury yields remained depressed, near record lows.
Gold prices consolidated,
Crude oil prices remained under selling pressure and reached fresh multi-year lows. WTI traded as low as $19.00 a barrel, recovering modestly ahead of the US close. US President Trump and his Russian counterpart Putin discussed the oil market situation and agreed to hold talks at ministerial levels.
Overall, sentiment remained sour amid the coronavirus crisis. The number of cases keeps rising, with those in the US at around 157,000. In Italy and Spain, the number of cases has surpassed those reported by China, while the global death toll approaches 37,000. Chances of a quick economic comeback dilute.
Crypto Today: Bitcoin sees big retest of bearish flag structure

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FXStreet Team

FXStreet

EUR/USD hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

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XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.