Key releases
Key releases
United States of America
USD is weakening against its main competitors – JPY, GBP, and EUR.
The investors are focused on the comments of US President Donald Trump. On Friday, he said that the increase in the Fed's rates slowed the development of the American economy. According to the president, the regulator should soften monetary policy, and then the US economy would fly “like a rocket ship”. Fed has been under pressure already. Earlier, economic adviser Larry Kudlow and Fed nominee Stephen Moore stated the need to cut rates by 50 basis points.
During the day, US February Industrial Orders will be released. It is predicted that the figure may reduce by 0.5%, which will affect USD negatively.
Eurozone
EUR is strengthening against USD and GBP but it is moving horizontally against JPY.
EUR is growing, despite the poor trade data from Germany, published today. In February, the volume of German exports decreased by 1.3% and imports fell by 1.6%. As a result, the total trade balance increased from 18.6 to 18.7 billion EUR but the German economy is under pressure due to the decline in global demand and the development of the trade conflict between the United States and China. Investors are waiting for the key events of the week: the ECB meeting and an early EU summit on Brexit. The head of the European regulator, Mario Draghi, will share his vision of the state of the European economy and clarify further actions of the ECB. At the last meeting, officials postponed the possible interest rate increase from this summer to the next year. However, the deterioration of the situation may force the regulator to go for a new softening of monetary policy. The EU summit will be held on April 10, at which the issue of new Brexit delay and its length will be decided. Currently, the British Prime Minister is asking for a deadline of June 30, and the head of the European Council, Donald Tusk, is proposing to postpone withdrawal from the EU for 12 months.
United Kingdom
GBP is weakening today against USD and EUR but it is moving horizontally against JPY.
Investors are focused on Brexit. Traders wait for the results of an early EU summit, which must clear whether the UK will leave the European Union without a deal, or Article 50 will last for some time. Meanwhile, Teresa May is trying to negotiate with Labor Party leader Jeremy Corbyn, noting that without an agreement with him, Brexit may not take place at all. On Tuesday, May is going to meet with German Chancellor Angela Merkel and French President Emmanuel Macron to convince them of the need for a short-term delay.
Japan
JPY today is strengthening against USD but it is moving horizontally against EUR and GBP.
Today, the Bank of Japan has reduced the estimated growth in exports and production for three of the country's nine regions, which is associated with a slowdown in demand in China. However, the head of the regulator Haruhiko Kuroda noted that the Japanese economy will continue to moderately increase, and the lack of exports will be balanced by the expansion of domestic demand. Today’s data on the balance of payments of Japan were positive. In February, its surplus rose to 2.677 trillion yen, which supported JPY.
Australia
AUD today is strengthening against USD, moving horizontally against GBP and JPY but weakening against the EUR.
Due to a lack of significant economic releases, AUD is moving under technical factors. Investors are waiting for the results of trade negotiations between China and the United States. The last round, according to statements by representatives of the American administration, ended successfully. President Donald Trump met with the head of the Chinese negotiators, Vice Premier Liu He, and said that the deal could be agreed upon within the next four weeks. The conclusion of the agreement can positively affect the growth of world demand and strengthen the position of AUD.
Oil
Today, oil prices are trying to grow slightly.
Prices are supported by the aggravation of military operations in Libya, which threatens to reduce the supply of "black gold" from this country. Meanwhile, according to Baker Hughes, the number of rigs in the United States of America increased for the first time in seven weeks and amounted to 831 units, which does not allow prices to significantly strengthen.
The investors are focused on the comments of US President Donald Trump. On Friday, he said that the increase in the Fed's rates slowed the development of the American economy. According to the president, the regulator should soften monetary policy, and then the US economy would fly “like a rocket ship”. Fed has been under pressure already. Earlier, economic adviser Larry Kudlow and Fed nominee Stephen Moore stated the need to cut rates by 50 basis points.
During the day, US February Industrial Orders will be released. It is predicted that the figure may reduce by 0.5%, which will affect USD negatively.
Eurozone
EUR is strengthening against USD and GBP but it is moving horizontally against JPY.
EUR is growing, despite the poor trade data from Germany, published today. In February, the volume of German exports decreased by 1.3% and imports fell by 1.6%. As a result, the total trade balance increased from 18.6 to 18.7 billion EUR but the German economy is under pressure due to the decline in global demand and the development of the trade conflict between the United States and China. Investors are waiting for the key events of the week: the ECB meeting and an early EU summit on Brexit. The head of the European regulator, Mario Draghi, will share his vision of the state of the European economy and clarify further actions of the ECB. At the last meeting, officials postponed the possible interest rate increase from this summer to the next year. However, the deterioration of the situation may force the regulator to go for a new softening of monetary policy. The EU summit will be held on April 10, at which the issue of new Brexit delay and its length will be decided. Currently, the British Prime Minister is asking for a deadline of June 30, and the head of the European Council, Donald Tusk, is proposing to postpone withdrawal from the EU for 12 months.
United Kingdom
GBP is weakening today against USD and EUR but it is moving horizontally against JPY.
Investors are focused on Brexit. Traders wait for the results of an early EU summit, which must clear whether the UK will leave the European Union without a deal, or Article 50 will last for some time. Meanwhile, Teresa May is trying to negotiate with Labor Party leader Jeremy Corbyn, noting that without an agreement with him, Brexit may not take place at all. On Tuesday, May is going to meet with German Chancellor Angela Merkel and French President Emmanuel Macron to convince them of the need for a short-term delay.
Japan
JPY today is strengthening against USD but it is moving horizontally against EUR and GBP.
Today, the Bank of Japan has reduced the estimated growth in exports and production for three of the country's nine regions, which is associated with a slowdown in demand in China. However, the head of the regulator Haruhiko Kuroda noted that the Japanese economy will continue to moderately increase, and the lack of exports will be balanced by the expansion of domestic demand. Today’s data on the balance of payments of Japan were positive. In February, its surplus rose to 2.677 trillion yen, which supported JPY.
Australia
AUD today is strengthening against USD, moving horizontally against GBP and JPY but weakening against the EUR.
Due to a lack of significant economic releases, AUD is moving under technical factors. Investors are waiting for the results of trade negotiations between China and the United States. The last round, according to statements by representatives of the American administration, ended successfully. President Donald Trump met with the head of the Chinese negotiators, Vice Premier Liu He, and said that the deal could be agreed upon within the next four weeks. The conclusion of the agreement can positively affect the growth of world demand and strengthen the position of AUD.
Oil
Today, oil prices are trying to grow slightly.
Prices are supported by the aggravation of military operations in Libya, which threatens to reduce the supply of "black gold" from this country. Meanwhile, according to Baker Hughes, the number of rigs in the United States of America increased for the first time in seven weeks and amounted to 831 units, which does not allow prices to significantly strengthen.
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