4/8/2021 12:58:48 PM GMT | By FXStreet Team
The EUR/USD pair trades in the 1.1870 region, recovering from an intraday low of 1.1861, and shows bullish potential amid the persistent dollar’s weakness, Valeria Bednarik, Chief Analyst at FXStreet, reports.
The ECB could start reducing its bond purchases during the summer
“The shared currency found support in comments from Robert Holzmann, Austria central bank Governor, as he said that the European Central Bank might be able to start reducing its bond purchases during the summer.”
“US Initial Jobless Claims for the week ended April 2 resulted at 744K worse than the 680K expected and the previous 728K. Later today, US Federal Reserve chief Jerome Powell is due to participate in a panel discussion about the global economy at a virtual International Monetary Fund Seminar.”
4/8/2021 11:17:29 AM GMT | By FXStreet Team
The USD/JPY pair is under pressure amid the dollar’s weakness and may fall below the 109.00 level, Valeria Bednarik, Chief Analyst at FXStreet, reports.
Japanese Trade Balance posted a larger-than-anticipated surplus of ¥524.2 billion
“Japan published its February Current Account which posted a surplus of ¥2916.9 billion, largely surpassing the ¥1996 billion expected. The Trade Balance for the same month improved to ¥524.2 billion from ¥-130.1 billion in the previous month. Also, March Consumer Confidence printed at 36.1, better than the previous 33.8. The Eco Watchers Survey for the current situation came in at 49, while the Outlook resulted in 49.8.”
“The US session will bring Initial Jobless Claims for the week ended April 2, foreseen at 680K from 719K previously and a speech from US Federal Reserve chief Jerome Powell, due to participating in a panel discussion about the glo
4/8/2021 12:46:34 PM GMT
EUR/USD Current Price: 1.1874
US Initial Jobless claims increased to 744K in the week ended April 2.
The ECB could start reducing its bond purchases during the summer.
EUR/USD is mildly bullish in the near-term, needs to advance beyond 1.1915.
The EUR/USD pair advances within range, recovering from an intraday low of 1.1861. The greenback is weak against all of its major rivals, as on Wednesday, the US Federal Reserve reiterated its dovish stance through the Minutes of its March meeting. Policymakers agreed that the accommodative monetary policy would remain in place until “substantial further progress” towards employment and inflation goals is achieved.
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