April 19th Market Update


U.S. Dollar Decline May Support Gold Uptick

As of 9 a.m. EDT Monday, gold was at $1,783.92. The yellow precious metal is projected to react well to the United States dollar declines.

Despite a pause on the Johnson & Johnson COVID-19 vaccine last week, United States officials reported that more than 200 million vaccinations have been administered.

A cryptocurrency called Dogecoin experienced high trade volume last week. Experts posit that the shift toward cryptocurrency legitimacy was fueled by Coinbase going public. The cryptocurrency reached a market value of more than $68 billion. Still, bitcoin sustained losses over the weekend.

Reports show that mothers are scarcer in the workforce today. Despite more than half a million women returning to the workforce in March, there are still almost 2 million fewer women than pre-pandemic. Reports from the United States Department of Labor indicate that recovery is on the way, as March unemployment rates dropped to 6%. As more businesses open back up and offer alternative working solutions, the numbers could continue to improve.

Good news for big banks: consumers are putting stimulus checks to use. Lending giants like JPMorgan Chase, Co. report that deposits are up and loan defaults are subsiding.

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