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[QUOTE="Solid ECN, post: 207373, member: 83167"] [HEADING=1][CENTER]Key Releases[/CENTER][/HEADING] [HR][/HR] [HEADING=2][B]The American currency is strengthening today against the yen and the pound, but weakening against the euro.[/B][/HEADING] [JUSTIFY]Today fresh data on the US labor market was published, which turned out to be ambiguous. The number of initial jobless claims increased by 184K, exceeding the forecast of 180K, but the total number of citizens receiving unemployment benefits continued to decline and decreased from 1.475M to 1.417M. In general, the US labor market is recovering. Also note the comments of the head of the Federal Reserve Bank of San Francisco, Mary Daley. Like most regulator officials, she advocated an early rate hike to a neutral level, but admitted that such actions by the US Fed could cause a moderate recession, although she does not believe in the implementation of such a scenario. Earlier in the week, Atlanta Fed President Rafael Bostic also voiced his concerns. In general, the US economy looks confident due to the recovery of the labor market and the construction sector, but a serious difference of opinion within the US Fed increases the uncertainty in its further actions. [/JUSTIFY] [HEADING=2][B]The European currency is strengthening today against its main competitors – the USD, the pound and the yen.[/B][/HEADING] [JUSTIFY]In the focus of investors' attention is the publication of March data on the consumer price index in the eurozone countries. On a monthly basis, the indicator increased from 0.9% to 2.4%, and on an annual basis - from 5.9% to 7.4%. It should be noted that the growth of both indicators fell short of the forecasts (2.5% and 7.5%, respectively), which gives experts the opportunity to assume that inflation in the eurozone reached its peak in March. However, price increases remain at record highs, requiring the intervention of the European Central Bank. Recall that earlier officials of the regulator announced the termination of the securities buyback program in Q3 2022, but the rate increase may follow only some time after that. However, the mood of European officials may change. For example, ECB vice-president Luis de Guindos said on Thursday that the bank could end its asset purchase program as early as July and immediately raise rates, but stressed the need to remain cautious and flexible in conducting monetary policy due to serious uncertainty caused by the Ukrainian crisis. [/JUSTIFY] [HEADING=2][B]The British currency is weakening today against the USD and the euro, but is strengthening against the Japanese yen.[/B][/HEADING] [JUSTIFY]Investors are looking forward to today's speech by the head of the Bank of England, Andrew Bailey, in which they will look for hints on further actions of the British regulator. Officials are expected to continue raising rates as inflation hit a 30-year high of 7% in March, but it's hard to say how big the hike will be. Experts believe that it can be from 25 to 50 basis points. [/JUSTIFY] [HEADING=2][B]The Japanese currency is weakening today against its main competitors – the euro, the pound and the USD.[/B][/HEADING] [JUSTIFY]The Japanese government released its monthly economic data today, raising its assessment of the state of the Japanese economy for the first time in four months. The document states that it is being restored due to the retreat of the coronavirus pandemic. Growth is also supported by an increase in private consumption and demand for services, but the increase in the cost of energy and food products slows down the growth of consumer sentiment. The report also indicated that the recent collapse of the yen has increased pressure on consumers and companies focused on the domestic market. The government sees financial market volatility, rising commodity prices and supply disruptions as the biggest risks to economic recovery. [/JUSTIFY] [HEADING=2][B]The Australian currency is weakening today against the USD, the pound and the euro and has ambiguous dynamics paired with the yen.[/B][/HEADING] [JUSTIFY]In the absence of significant economic releases, the Australian dollar is traded under the influence of external factors. Investors are waiting for the release on Friday of preliminary March data on business activity in the Australian economy. Industrial activity is expected to decline from 57.7 to 57.0 and services from 55.6 to 55.0, but overall should remain at high levels, confirming the Australian economy is ready to pick up Reserve Bank of Australia interest rates. [/JUSTIFY] [HEADING=2][B]Oil quotes are making moderate attempts to grow today.[/B][/HEADING] [JUSTIFY]The EIA report published recorded a serious decline in oil and petroleum products inventories in the USA. Stocks of "black gold" immediately decreased by 8.020M barrels, distillates – by 2.664M barrels, and gasoline – by 0.761M barrels. The consumption of petroleum products in the USA continues to grow, increasing the volume of demand in the oil market. Also, the rise in prices is supported by the statement of the Libyan authorities that the volume of production in the country decreased by 550K barrels due to the idle time of large deposits and export terminals.[/JUSTIFY] [/QUOTE]
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