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 sided 0.16% to 92.463.
The EUR/USD pair soared 0.22% to 1.1829 in the early session of the European market.
The GBP/USD pair moved up at 0.20% to 1.3836 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 pm – European Central Bank President Lagarde Speaks
- 7:00 am –U.K. Unemployment Rate
- 1:30 pm –U.S. Core Consumer Price Index (CPI) MoM
- 3:00 am – China Industrial Production YoY
- 7:00 am – U.K. Consumer Price Index (CPI) YoY
- 1:30 pm – U.S. NY Empire State Manufacturing Index
- 3:30 pm – U.S. Crude Oil Inventories
- 2:30 am – Australia Employment Change
- 1:30 pm – U.S. Initial Jobless Claims
- 1:30 pm – U.S. Core Retail Sales MoM
- 7:00 am – U.K. Retail Sales MoM
- 10:00 am – Eurozone Consumer Price Index (CPI) YoY
- 3:00 pm – U.S. Michigan Consumer Sentiment
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