XE Market Analysis: North America – Apr 13, 2021

The dollar picked up amid a backdrop of rising stock markets in Asia, which was sparked by respective 30.1% y/y and 38.1% y/y surges in Chinese exports and imports in March — data affirming a post-pandemic turnaround, with China benefiting from both a ‘first in first out’ status and a rebound in global activity. The data also had the effect of allaying concerns about tightening monetary policy in China, being justified by fundamentals. The MSCI Asia-Pacific equity index posted gains of nearly 0.5%, while European stocks and U.S. equity index futures also rose, albeit moderately so.