|07:00||Switzerland||Foreign Currency Reserves||March||914.21||930.486|
|08:30||United Kingdom||PMI Construction||March||53.3||54.6||61.7|
|09:00||Eurozone||Producer Price Index, MoM||February||1.7%||0.6%||0.5%|
|09:00||Eurozone||Producer Price Index (YoY)||February||0.4%||1.4%||1.5%|
|11:30||Eurozone||ECB Monetary Policy Meeting Accounts|
USD weakened against most of its major counterparts in the European session on Thursday, as yields on longer-term U.S. Treasuries slipped as investors continued to digest the dovish Fed minutes, which were released on Wednesday.
Benchmark 10-year Treasury yields fell by 3 basis points to 1.647% early Thursday, reaching their two-week lows, after the minutes from the Federal Reserve's March policy meeting showed that the Fed officials remained cautious about the risks of the pandemic and committed to keeping the current accommodative monetary policy until economic recovery is more secure.
“Participants agreed that the economy remained far from the Committee's longer-run goals and that the path ahead remained highly uncertain, with the pandemic continuing to pose considerable risks to the outlook,” the FOMC minutes from the March 16-17 meeting said. "All members agreed to maintain the target range for the federal funds rate at 0 to 1/4 percent, and they expected that it would be appropriate to maintain this target range until labor market conditions had reached levels consistent with the Committee's assessments of maximum employment and inflation had risen to 2 percent and was on track to moderately exceed 2 percent for some time. In addition, members agreed that it would be appropriate for the Federal Reserve to continue to increase its holdings of Treasury securities by at least $80 billion per month and agency mortgage-backed securities by at least $40 billion per month until substantial further progress had been made toward the Committee's maximum-employment and price-stability goals."
It should be noted, however, that several policymakers suggested that interest rates might need to increase sooner than anticipated, but market participants ignored this message.
Investors are now awaiting the speech of the Fed's Chair Jerome Powell, who is to participate in a virtual IMF's conference on the global economy today at 16:00 GMT.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2021 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Telerade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Telerade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.