The past week passed quite calmly both for the Belarusian ruble and for world currencies. At the same time, the crypto market was waiting for some interesting news: the EU authorities decided to regulate it and even
accepted relevant law. But is it worth waiting for some high-profile events in the last days of April, Office Life asked experts in traditional currencies and crypto.
Photo: OL
What about exchange rates?
Alexey Ermolaevsenior analyst at Foras.Trade, says that the last week of April is not very rich in important economic statistics.
Technical factors will remain the determining factors for the leading currencies. The dollar on the eve of the meeting of the Federal Reserve System, scheduled for May 3, will gain weight. Most analysts are inclined to conclude that the rate will increase by 25 basis points. The euro against the dollar fixed at the level of 1.09-1.1, and here, too, one should not expect major changes. The Swiss franc, as a defensive currency, is at high levels against the dollar during times of uncertainty, but will come under pressure as the Fed meeting approaches. The Japanese yen can demonstrate the greatest volatility, since on Friday, April 30, the Japanese central bank will make a decision on the interest rate. And although the new head of the bank, Kazuo Ueda, confirmed his intention to follow the previous course, there may be surprises.
Aleksey notes that the world economy is now very vulnerable, investors react sharply to the slightest changes. Under such conditions, the actions of the monetary authorities of the leading world powers should be the most deliberate and understandable, since the slightest deviation from the predicted behavior can provoke a panic in the markets and affect the exchange rates.
What about the crypto market?
Expert in the field of modern mining technologies Maxim Leonenkov also believes that this week there will be no particularly significant economic events.
Now the market is waiting for May 3, when the meeting of the US Federal Reserve System will take place. Before this event, most likely, bitcoin and the main crypto assets will be in the “flat” (when prices hardly rise or fall. — OL). Globally, the growth of bitcoin should continue in the event of a rate cut by the Fed. But at the moment the market is laying the rate hike at the next meeting.
If we give a forecast in numbers, then Maxim notes that analysts expect a depreciation of bitcoin to $24,000 in the coming weeks.
