Euro/Dollar
At the moment, the single European currency paired with the US dollar has been fixed in a higher price range, near the 1.1143 mark. The formation of an uptrend is visible.
In the yield of US Treasury bonds, there is another wave of growth and a rise to the level of 2.164%.
Thursday's news had a positive impact on the euro/dollar exchange rate. According to the final data of Eurostat, last month in the Eurozone there was an increase in consumer prices by 5.9% year-on-year. The current indicator has become the maximum for the entire time of conducting calculations. According to preliminary forecasts, annual inflation in the region in January was expected to reach 5.8%. As a result, the figures turned out to be 5.1%.
If we discard such volatile factors as the cost of food, alcohol and energy resources, consumer prices in February increased by 2.7% compared to the same month a year earlier. From January to February, prices for alcohol, tobacco products and food increased by 0.7%, from 3.5% to 4.2%. Services have risen in price by 2.5%, the cost of energy - by 32%.
Important economic statistics of the United States are expected to be released on Friday, including the volume of sales in the secondary housing market.
Pound/Dollar
The pound/dollar currency pair is currently consolidating near the resistance border at 1.3202, in the trading framework of 1.3202 - 1.3146. The formation of an upward trend is observed. In the event of a breakdown of an important resistance mark, the prospect of reaching the level of 1.3274 will open.
The yield of British bonds today was fixed at 1.5735%.
The result of yesterday's meeting of the Bank of England was an increase in the rate by 0.25 percentage points, to 0.75%, due to the rapid growth of the inflation indicator. Thus, the bid has already been increased three times in a row.
Meanwhile, official statistics show that in the UK last month consumer prices rose by 5.5% compared to February 2021. In January, the highest figures for the last thirty years were observed.
The Bank of England predicts an acceleration in inflation rates in the coming months to 8% and by the end of the year the indicator will only increase.
In the second half of the week, the pound/dollar currency pair will be sensitive to the economic statistics of the United States.
Gold
The banking metal continues to grow, and technically an ascending channel has already formed on the market. However, gold is not yet able to break through the key resistance boundary at 1961.24. The level of 1925.70 dollars per ounce prevents further decline in quotations.
Trading Thursday ended with the growth of the US stock market, due to positive dynamics from the health care, oil, gas and commodities sectors. The Dow Jones rose by 1.23%, the S&P 500 index increased by 1.23%.
The latest data from the real estate market of the United States indicate a rise in the price of housing. Last week, the rate on thirty-year mortgages immediately increased by 31 basis points, reaching 4.16%. Such a rise has occurred for the first time in the last three years. Experts predict that the cost of mortgage loans will only increase.
Meanwhile, the Fed raised the key rate to 0.25-0.5% per annum. The regulator also said that about six more increases are planned this year.
Cryptocurrencies
In the American session, BTC showed a decline and stopped near the support of $39,856. A breakdown of this level will be a strong signal for the start of active sales.
By the end of Thursday, the capitalization of the crypto market amounted to 1.81 trillion US dollars, while on Wednesday there were figures of 1.82.
Digital currencies are reacting to external news signals this week. The trading dynamics of bitcoin is reflected in moderate growth, which is similar to the dynamics of liquid US securities.
The Fed's March meetings ended with a 25 basis point rate hike. By the end of the year, the regulator plans several more increases, due to the record level of inflation. Also, the reduction of the Federal Reserve's balance sheet may begin in the near future.
Meanwhile, the President of Ukraine approved a law on the legalization of cryptocurrencies in the country, and Binance received a license to work in Dubai.