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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The ECB could start reducing its bond purchases during the summer.
US unemployment claims unexpectedly surged in the week ended April 2.
EUR/USD has room to extend its advance beyond the 1.2000 mark.
The American dollar was once again the weakest, resulting in EUR/USD reaching a fresh two-week high at 1.1927. The greenback accelerated its decline as US Federal Reserve chief Jerome Powell spoke in an IMF seminar. Powell didn’t add much new to what the market already knew, but his dovish words put pressure on Treasury yields, which remain at the lower end of their weekly range.
On the other hand, Robert Holzmann, Austrian Central Bank Governor, said that the European Central Bank might be able to start reducing its bond purchases during the summer, providing support to the shared currency.
Market Watch 666 For 14March 2021
February s consumer and producer prices, January s wholesale trade and JOLTS
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In addition, this week also saw the Mortgage Monitor for January from Black Knight Financial Services, which indicated that 5.85% of all mortgages were delinquent in January, down from 6.08% in December, but up from 3.22% in January of 2020, and that a record low of 0.32% of all mortgages were in the foreclosure process, down from the 0.33% that were in foreclosure in December and down from the 0.46% of mortgages that were in foreclosure a year earlier.
March 13, 2021 at 04:00 AM EST This morning s release of the February Producer Price Index (PPI) for Final Demand was at 0.5% month-over-month seasonally adjusted, down from a 1.3% increase last month.