Busy Friday amid many macro data

It looks like a busy day for traders as the macro calendar is full of many important updates. 

 On Thursday, the European Central Bank decided at its meeting to leave its 1.85 trillion EUR bond-buying program unchanged, confirming that purchases will run at an elevated pace in the current quarter.

The EURUSD pair was without a reaction, but it continues its trend higher on Friday as it jumped above 1.2050.

From other news, rumors spread that Yellen is proposing a capital gains tax as high as 80% for crypto trading – and all the major cryptocurrencies were slammed, with Bitcoin losing 10% and dropping below 50,000 USD. 

Back in Europe, the UK retail rose more than expected, bolstering sterling, and the GBPUSD pair was trying to advance above 1.39. Later in the day, UK PMIs are due and could cause more volatility in the cable. 

Additionally, the EU services PMI rose to 50.3 from 49.6 previously, while the manufacturing sector improved to 63.3 from 62.5. Both numbers beat market forecasts. 

Later in the day, US new home sales are due, along with the PMIs for April. 

Source: https://www.axiory.com/market-news/busy-friday-amid-many-macro-data