At 14:00, the Bank of England will announce the interest rate resolution, meeting minutes, monetary policy report and interim financial stability report, and will also announce the total size of the central bank’s asset purchases in the UK up to May 7. The market currently expects that the central bank is unlikely to adopt further monetary policy, but investors need to focus on the latest GDP expectations, because this shows whether the Monetary Policy Committee thinks it is necessary to increase monetary stimulus.
At 20:30, the number of people applying for unemployment benefits in the United States from the beginning of the week to May 2 will be announced. The market expects that the number of people applying for unemployment benefits at the beginning of this period will be 3 million, which is lower than the previous value of 3.839 million, but it is still at a high level.
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TD Securities: The US dollar shows a hedging advantage in its current position.
TD Securities said that the US dollar shows a risk-averse advantage in its current position, and the stock market and economic trends are currently broken. Even if there are risks in the day, the performance of the US dollar is largely related to the performance of the stock market.
Bank of America: The euro will weaken further against the US dollar for the rest of this year.
Bank of America discussed the prospect of the euro against the US dollar, outlined the decline towards 1.02 in the coming months, and explained several key reasons for maintaining a structural bearish position. Although the euro is undervalued by about 10% against the US dollar, according to our estimation, we think the currency pair will weaken further in the rest of this year. It is estimated that the EUR/USD will be between 1.02 and 1.05, and there is downside risk. The euro will weaken in the next few months, as the global economic outlook deteriorates and the economic recession in the euro zone is more serious. In addition, macro-corresponding policies, peripheral risks, sovereign risks, low oil prices and long-term market position of the euro will make the euro in a weak state.
Credit Suisse: EUR/JPY is bearish in the medium term
Credit Suisse discussed the technical prospect of the euro against the yen during the day, indicating that it will remain bearish in the medium term. A clear breakthrough of 115.53 will confirm the bearish "triangle", and the euro has fallen sharply against the yen again, falling below the key support level of 115.53, that is, the upward trend of 2016/18 is 78.6%, forming a bearish triangle, and the next target will be the low of 114.85 in April 2017; Although this support level is relatively strong, we still expect that this position will be broken to consolidate the downward trend. The next support level is at 113.71, and the last is the low of 109.55 in 2016; The initial resistance level is at 115.53, then at 115.66, and the immediate risk of reaching 116.00 is low.