The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Bank of England Meeting
|Positive economic data from the UK bring the moment of the Bank of England’s rate hike closer. At the last meeting of the central bank, 2 out of 9 MPC members voted for an increase of the interest rate. Although Governor Mark Carney has recently discouraged expectations of a rate hike in May, the regulator may still give clues on its future monetary policy. An encouraging estimation of the economy will support the pound. Follow the BOE’s report at 14:00 MT time on May 10.|
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.