Forex and Cryptocurrency Forecast for May 03 – 07, 2021

<p>First, a review of last week’s events: – EUR/USD . The last week of April was marked by three events­: the Fed meeting, as well as the publication of data on the US and Eurozone GDP. As for the US Fed, the results of its meeting were predictable. The interest rate was left unchanged at 0.25%. The volume of the quantitative easing program (QE) remained the same, $120 billion monthly. And the head of the regulator Jerome Powell uttered almost word for word what we wrote in the previous forecast: although the pace of the US economic recovery is impressive, this is completely insufficient to talk about curtailing fiscal stimulus programs. So far, everything is rather fragile, the acceleration of inflation, according to Powell, is a temporary factor, and the number of people employed remains 8.5 million lower than in February 2020. On the other hand, US GDP growth in the first quarter was higher than forecast and amounted to 6.4% (against 4.3% a quarter earlier), showing the best dynamics s</p>