1️⃣ Many factors supporting, USD to the highest level in 4 months
- The dollar hit a four-month high on Wednesday as concerns about a third wave of COVID-19 in Europe soar, the possibility of tax hikes in the US and escalating tensions between the West-China both of these are reducing the need for risky assets.
- The greenback's strength index against a basket of currencies has increased by nearly 3% so far, which has puzzled analysts' previous bearish expectations.
2️⃣ The economic recovery signal in the UK is flourishing
A large number of new orders in anticipation of the easing of blockade restrictions fueled a much stronger recovery than was expected in March, a business survey on Wednesday.
The UK economy fell 10% last year - the strongest decline in more than 300 years - and earlier this month, the government's budget forecasters predicted it would take mid-year. this can restore to a pre-pandemic scale.
The survey found that trust among British businesses was underpinned by the UK's rapid release of the COVID-19 vaccine, a factor behind the first increase in employment since the onset of the pandemic.
The survey is likely to reinforce the confidence of Bank of England (BoE) officials that the economy is on the verge of a rapid recovery this year.
3️⃣ Significant events and economic data today
- At around 17:00 on Thursday, many central bank officials will attend the meeting of the Bank for International Settlements, including Fed Williams, President of the European Central Bank Lagarde, President of the Central Bank You can pay attention to their speeches. In addition, at 16:30, the Swiss National Bank will announce the interest rate decision.
- At 20:30 p.m. US economic data including initial unemployed, final GDP and final PCE values are released. If the data works well, it could continue to drive the US index.
After 10pm, many Fed officials also deliver a speech, including Fed Vice President Clarida, Williams and Bostic.
- On Thursday, US President Biden will hold the first official press conference since taking office, the market expects that Mr. Biden will respond and explain hot issues such as southern border, plans infrastructure and vaccines. In addition, Biden will attend the EU Video Summit and is expected to talk about US-EU relations, vaccines and the climate.
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