GBP sinks after poor GDP report
Equities in Europe advance after an upbeat Asian session
DASH touches $500 mark but falls afterwards
Friday brought a rebound in both Asian and European equities after Wall Street benchmarks surged yesterday. In the afternoon investors will be offered GDP report from the US economy that may impact already stellar gain of the greenback. Pound is the weakest currency from the G10 basket on the back of disappoint GDP reading. Gold advances slightly while silver posts minor drop. Industrial metals trade broadly lower with copper leading the decline.
Mark Carney was not offered the reassuring GDP report to say the least as growth during the first three months of the year slowed down the most since mid-2012. The data gives him fresh food for thought before the monetary policy meeting scheduled for 10 May. In effect, the British currency took a hit.
All around the world companies are reporting their financial results for the first quarter, the German largest lender Deutsche Bank has already done so showing a decent $146 million profit. This fallout might look impressively, but it’s still short of the outcome presented by Binanace, the international multi-language cryptocurrency exchange founded in 2017.
Eurozone finance ministers will meet today to discuss the aspects and possibilities connected with implementation of the banking union in the EU. Apart from that the agenda also contains a discussion on the wage growth dynamics and Greece’s economic adjustment programme.
The Bank of Japan left its short-term interest rate at -0.1% unchanged as well as its target for the 10Y yield close to 0% in line with expectations. However, the bank also decided to scrap its time frame for hitting its 2% inflation goal admitting that it could take much more time.
As the UK GDP reading was already released investors will now turn their attention to the US data that is scheduled for release in the afternoon. Firstly we will be offer GDP report while UoM sentiment index will take the stage later on.