At 14:30 (GMT+2), in Canada data on the level of employment for March will be published. This indicator captures changes in the number of employed citizens in the country. It is expected that the number of employed citizens will be reduced by 350.0K. The implementation of the forecast may put pressure on the Canadian dollar.
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At 14:30 (GMT+2), weekly data on the number of initial unemployment claims in the United States will be released. The indicator reflects the number of people who applied for unemployment benefits for the first time in the past week. These data are collected by the Ministry of Labor and published in a weekly report. The number of applications for benefits is used to measure the state of the labor market since an increase means fewer people are hiring. The indicator is expected to decline from 6.648 million to 5.250 million.
At 13:30 (GMT+2), the ECB will publish the minutes of its last monetary policy meeting. They may contain an assessment of the current situation in the European economy in connection with the spread of the coronavirus epidemic, as well as hints of further steps of the regulator.
Today, the movement of oil prices is insignificant. Market participants expect the results of the meeting of the largest exporters of "black gold". In April, the instrument rebounded from the multi-year lows, as Russia, Saudi Arabia, and the United States agreed to hold another round of negotiations in the OPEC+ format.
GBP today strengthened against USD after the publication of controversial February statistics in the UK. GBP was supported by Manufacturing Production, the level of which grew by 0.5% MoM, exceeding the forecast of 0.1%.
Yesterday, the US Federal Reserve announced the launch of the FIMA Repo Facility mechanism, which will help ensure the smooth functioning of financial markets, including the US treasury market, and thus support the provision of loans to American households and enterprises.
The price of silver futures continues to rise, reaching USD 15 per ounce, along with the USD Index, which is also strengthening, but this time the metal quotes look stronger and are in no hurry to decline. The number of speculative positions in silver continues to decline, but the pace of the fall slowed down and, according to the CFTC, the number of positions is 30.9K after 42.0K a week earlier.
Today, during the Asian session, the NZD/USD pair is growing moderately, trading near the local highs since March 31. NZD is strengthening due to the development of USD correction dynamics, which is slightly weakening due to improved investor sentiment in the market.
The pair continues declining moderately amid the strengthening of USD against a basket of world currencies. USD Index is currently trading at 100.100, which led to a decrease in the pair to the current level of 1.4000.
Today, during the Asian session, the EUR/USD pair is growing slightly, continuing to develop the “bullish” momentum formed on Tuesday. Yesterday, EUR declined due to the failure of the Eurogroup negotiations, which lasted more than 15 hours.