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Monthly Currency Outlook | Reports

Monthly Currency Outlook - April 2021

Our April report outlines the key events and drivers that our analyst team expect to impact FX currency markets in the weeks ahead.

Monthly Currency Outlook April

Written by George Vessey, UK Currency Strategist 

Highlights include:

USD:  America’s first quarter growth report in late April will shed light on how the economy is faring after it contracted by a record 3.5% in 2020.
CAD:  The BOC now expects first quarter growth to be positive compared to its December forecast of contraction.
GBP: GBP/EUR could stretch towards €1.20 if the UK-EU vaccination differential persists, but this is a post-Brexit ceiling that could be a hard level to overcome.
EUR: A second cancel of the summer holiday period in Europe would generate significant losses for countries like Italy or Spain where tourism revenues are large.
JPY: A spike of volatility across global markets would underpin a significant corrective rebound of the currently low-valued yen.