Overnight:
A dovish statement by the ECB
ECB leaves monetary policy unchanged
ECB: PEPP to run significantly faster than at the start of the year
ECB to reinvest maturing bonds at least through the end of 2033
The main message from the ECB was, leaving the current policy unchanged and reiterating that the bond purchase is set to run until a least March 2022.
US weekly jobless claims rise to 419K, exp: 350K, prev: 360K
GBP was the best performer overnight, with cable rate reaching 1.3770.
The Aussie is looking to regain the 74 cents on weaker USD and the hope of getting US President Joe Biden’s infrastructure plan passed through the Senate. However, the ongoing US-China tussles, amid American support to Canberra’s trade dispute with Beijing, China’s National Security Law action in Hong Kong can add pressure to the Aussie dollar.
Today’s focus will be global PMIs.
AUDUSD is expected to print a fourth weekly loss due to slower global growth and coronavirus concerns.
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