NEWS, MARKET DATA & BLOG
3 THINGS TO WATCH
FOMC Power up the US Dollar?
The Federal Reserve possibly announce the monetary policies unaffected but might suggest tapering of the asset purchase programme. Moreover, the Fed Chair Jerome Powell possibly have a tougher time dwell on rising inflation worries.
BoE Monetary Policy Preview
The Federal Reserve pushed the US dollar toward the downside following the FOMC monetary policy meeting. The Fed decided to retain the current monetary policy to keep and expecting a long period of assistance to the economy. Due to the Fed ultra-loose monetary policy, the GBP/USD pair bounced to a fresh weekly high to 1.3974 Level.
US Jobless Claims Report
Following a yearlong lockdown; now the job market starts showing some improvements in the first quarter. However, jobless claims are still at historically high levels. This situation caused in the market due to businesses were not able to sustain themselves during pandemic hit. US initial jobless claims projected to fall to 725K from 745K.
ECONOMIC EVENTS & DATA
USD, EUR/USD & GBP/USD
The U.S. Dollar Index against a basket of six currencies edged marginally higher 0.14% to 92.576.
The EUR/USD pair is trading flat at 1.1814 in the early session of the European market.
The GBP/USD pair marginally climbed back 0.08% to 1.3885 level in the early hours of the London opening.
Other currency news
SEC Approved Bitcoin ETF
JP Morgan’s brand-new product comprehends a hamper of disproportionately weighted stocks directly or indirectly associated with cryptocurrency. The Securities and Exchange Commission (SEC) has granted approval to JP Morgan to release a Bitcoin exposure basket. This new product might work as a getaway for clients who wish to invest in virtual currency trading via this ETF.
Nonfarm Payrolls Preview
There are expectations for an economic comeback, which might dominate the previous moderate macroeconomic numbers. Positive Nonfarm Payrolls data possibly push the US dollar higher temporarily.
KEY ECONOMIC EVENTS
- 2:30 am – China Caixin Manufacturing Purchasing Managers Index (PMI)
- 9:00 am –Eurozone Manufacturing Purchasing Managers Index (PMI)
- 9:30 am –U.K. Manufacturing Purchasing Managers Index (PMI)
- 3:00 pm –U.S. ISM Manufacturing Purchasing Managers Index (PMI)
- 5:30 am –Australia Interest Rate Decision
- 2:45 am – China Caixin Services Purchasing Managers Index (PMI)
- 9:00 am – Eurozone Services Purchasing Managers Index (PMI)
- 9:30 am – U.K. Services Purchasing Managers Index (PMI)
- 1:15 pm – U.S. ADP Nonfarm Employment Change
- 3:00 pm – U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI)
- 3:30 pm – U.S. Crude Oil Inventories
- 9:30 am – U.K. Construction Purchasing Managers Index (PMI)
- 12:00 pm – U.K. Interest Rate Decision
- 1:30 pm – U.S. Initial Jobless Claims
- 1:30 pm – U.S. Trade Balance
- 1:30 pm – U.S. Nonfarm Payrolls
- 1:30 pm – U.S. Unemployment Rate
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