USD 1️⃣ steady, investors wait for confirmation from new data
- Dollar stabilized on Monday as investors reviewed strong US jobs report last week and waited for data on the country's services sector to confirm a solid economic recovery Post-Covid-19.
- The USD had its best quarter against major currencies for almost 3 years at the end of Q1, thanks to economic improvements and rising bond yields.
- Last week's employment data showed that the US economy created more jobs than expected in March. However, there was very little reaction in the money market since most of the bond and stock markets. Main ballots are closed during the Easter holiday season.
USD short positions in money markets also fell to their lowest level since June of last year, according to Commodity Futures Commission data showed last week - another positive sign against the greenback.
2️⃣ BoJ considers issuing digital currency
The Bank of Japan (BOJ) began researching the feasibility of issuing its own digital currency on Monday, alongside other central banks' efforts to keep pace with the strides. in the private sector cryptocurrency.
- BOJ said the first phase of trials will be carried out until March 2022, will focus on testing the technical feasibility of issuing, distributing, and buying back a currency. Central bank digital currency (CBDC).
The BOJ will then move on to the second phase of the experiment, which will scrutinize the functionality in more detail, such as whether or not to set a limit on the number of CBDCs that each entity can hold.
3️⃣ The price of oil slipped as OPEC + increased production
- Oil dropped to around $ 64 per barrel on Monday as increased supply from OPEC + and higher Iranian output offset signs of strong economic recovery in the United States and hope an increase in demand in the year 2021.
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC +, agreed on Thursday to increase their monthly output from May to July. Iran is also increasing their supplies.
4️⃣ Today's notable facts and data
- At 12:30 today, the Reserve Bank of Australia will announce a resolution on interest rates and is expected to keep interest rates unchanged.
- At 20:30 tonight, the Spring 2021 meeting of the IMF / World Bank will publish the World Economic Outlook and Global Financial Stability Report. European Central Bank President Lagarde, Executive Commissioner of the European Central Bank Panetta, and President Riksbank Inves will attend the IMF / World Bank spring meeting in 2021. The specific date will be identified.
Subscribe to #MoneyLifeResearch #ForexSignals #BestForexSignals Live Forex Signals
No comments:
Post a Comment