Market Trading News&Updates

  • Check out the news of the past 24 hours:

:one: Fed Chairman Powell said that the economy appears to be accelerating, but a full recovery is far from being achieved and the Fed will continue to support policy.
:two: European Central Bank has finally accelerated bond buying in response to rising bond yields.
previous value is higher than previous value and expected value.
:three: AstraZeneca’s vaccine has an efficacy rate of 79% in U.S. Phase III clinical trials, and plans to obtain emergency approval from US regulators within a few weeks.
:four: Notable facts and economic data today

At 19:50 the Governor of the Bank of England Bailey will deliver a speech. 22:10 The FOMC voting committee and the Fed President in Atlanta, Bostic are also to speak. At 23:00 the FOMC voting committee and Richmond Fed President Barr will speak.
US Treasury Secretary Yellen and Fed Chairman Powell testify before the House Financial Services Committee at 24:00. Today there are many speeches of the members of the Fed most is the hearing of Yellen and Powell will be able to have large fluctuations of the market investors should pay close attention.

Check out the news of the past 24 hours:

:one: Fed Chair - J. Powell’s comments during the late-night hearing yesterday:

  • Powell said that the post-pandemic economic recovery has “progressed faster than generally expected and appears to be consolidating.” However, the sectors of the economy that were hardest hit by the pandemic are “still weak” and the unemployment rate is still “underestimated,” so recovery still has a long way to go .
  • Powell also expected inflation to rise this year, but it would “be neither too large nor persistent.”
    :two: UK labor market was more positive than expected
    Britain’s unemployment rate unexpectedly dropped over the 3-month period through January, official data showed Tuesday.
    Specifically, the primary unemployment rate fell to 5.0% in the three months through January from 5.1% in the last quarter of 2020, contrary to the forecast in a Reuters poll of a small increase to 5.2%. . None of the economists polled expected a drop.
  • Howard Archer, UK chief economist said: “The latest labor market data is a bit mixed but shows significant resilience.”
    :three: The EU continues to face concerns about a stalling recovery
    Europe is facing a tough second quarter as coronavirus infections rise and governments re-apply blockade measures. However, the European Central Bank (ECB) will do its part to keep borrowing costs extremely low, said Philip Lane, ECB chief economist.
  • Fearing that rising borrowing costs will hinder a recovery, ECB earlier this month promised to increase bond purchases to keep yields low. The figures released on Monday show that purchases of mostly government bonds have increased by a half in the week since that decision.
    Immunization campaigns have slowed surprisingly across 19 eurozone countries and governments are now extending blockade measures that threaten economic recovery.
    :four: Notable economic data and events today
  • Powell and Yellen will attend the Senate Banking Committee hearing at 22:00 on Wednesday, and their content matches Tuesday.
    In addition, Fed officials Barkin, Williams and Daley will all deliver a speech. Kaplan’s latest speech is an anomaly, and you might notice the attitudes of other officials about the rate hike.
  • European Central Bank President Lagarde will deliver a speech on climate change at 23:40 PM. The Federal Reserve has set up a new climate committee to oversee some of the European Central Bank’s actions.

Check out the news of the past 24 hours:

:one: 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.
    :two: 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.
    :three: 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.