The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
British services activity inches up in July
In July, activity in the British service sector surged more than expected, putting an end to two months of dips and spurring optimism over the UK economy because the sector makes up nearly 80% of GDP, as industry data disclosed on Thursday.
As market research group IHS Markit states, the previous month seasonally adjusted IHS Markit/CIPS services purchasing managers’ index went up to 53.8 from June’s reading of 53.4.
Experts had hoped that the index would ascend to 53.6.
On the index, a reading above 50.0 stands for expansion in the industry. On the contrary, an outcome below 50.0 points to contraction.
The research group stressed that the reading appeared to be a moderate uptick from June’s four-month dip and also warned that optimism as for the business outlook was still subdued.
On the other hand, the report confessed that employment numbers tacked on at the fastest tempo since January 2016.
Meanwhile, in London FTSE 100 sank 0.33%.
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.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.