All Eyes on U.S. President Biden's Press Conference?
25.03.2021
- Press Conference by U.S. President Biden (Time TBD)
- U.S. Initial Unemployment Insurance Claims
Yesterday, stock prices fell in both European and U.S. markets, leading to lower stock prices, a weaker U.S. dollar, and higher interest rates. Additionally, following the announcement that Bitcoin could be used to purchase Tesla vehicles, BTC rose temporarily but ultimately fell back to the 5.6 million yen range.
In the foreign exchange market, the euro-dollar pair, which had fallen to around the 200-day SMA on the daily chart, is rebounding near 1.182.This appears to be partly due to yesterday’s manufacturing PMI reading of 62.4, which was stronger than expected. However, given concerns about a resurgence of infections—including those caused by new COVID-19 variants—it is important to closely monitor the market for any potential turning points in currency dynamics.
Today’s schedule includes remarks by Bank of England Governor Bailey at 16:00, the Swiss National Bank’s (SNB) policy rate announcement and statement at 17:30, the ECB’s monthly report at 18:00, andECB President Lagarde, and remarks by German Bundesbank President Weidmann. At 9:30 p.m., U.S. initial jobless claims and personal consumption data are scheduled, followed at 11:30 p.m. by U.S. weekly natural gas inventories and remarks by New York Fed President Williams.In addition, although the time has not yet been determined, President Biden’s first press conference since taking office is also scheduled. It will be interesting to see what views he expresses regarding the current state of the COVID-19 pandemic.
