(ABM FN-Dow Jones) The euro traded near $ 1.19 on Thursday after already trading at $ 1.1912 in the past 24 hours.
“We think that was a one-off event,” currency trader Stéphane van der Meer of Ebury currency broker said Thursday against ABM Financial News. “The long-term risks for the euro are down and the dollar is up, because the headwinds in the Coronavirus vaccination in Europe are stronger than the tailwinds in the US, where the economy is also more favorable. And it appears to be the case.” Said a currency trader.
Van der Meer is looking forward today to weekly US requests for assistance and Fed Chairman Jerome Powell’s performance tonight at 6pm. Van der Meer said: “If the number of requests for assistance is much less than 700,000 and Powell does not deviate from his previous critical vision and comments, the dollar may rise again. Powell will be heard closely on Thursday.”
For the rest of the week, trader Van Ibery estimates Thursday that attention on Friday will be on industrial production, Germany’s trade balance in February, and US producer prices in March.
Early this morning in Japan, it was revealed that consumer confidence increased for the month of March.
German Factory Orders rose more-than-expected in February.
In the euro-zone, the February Producer Prices were released, with a month-on-month rise slightly below expectations.
The number of US assistance requests is expected to reach 694,000. As for the aid requests, the European Central Bank is to publish the minutes of its last policy meeting.
On Thursday, speakers will be Bank of England Chief Economist Andy Haldane, Bank of St. Louis Chairman James Bullard, and Minneapolis Fed Fellow Neil Kashkari.
The euro settled at $ 1.1874 on Thursday. The European currency also remained unchanged at £ 0.8640. The British pound was trading at $ 1.3742 and that was also an unchanged exchange rate. The dollar rose 0.2 percent to 6.5520 Chinese yuan. The dollar fell 0.3 percent on Thursday to trade at 109.5465 yen.
ABM Financial News; [email protected]; Revised text: +31 (0) 20 26 28999.
From Beursplein 5, the editors of ABM Financial News follow closely the developments on the exchanges, and the Amsterdam Stock Exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make specific investments.
