US dollarThe risk-off sentiment remained the underlying theme this Thursday, as the market mood was fragile amid intensifying coronavirus spread on both sides of the Atlantic. Therefore, the US economic aid package passed by the Senate failed to lift the sentiment, with the Asian stocks a mixed bag while the US equity futures dropped along with the Treasury yields.
The US dollar remained under pressure across the board amid easing funding stress on the US fiscal and monetary measures. USD/JPY slipped below 111.00 amid widespread risk aversion while EUR/USD benefited the most from broad US dollar weakness amid some positive news coming out Italy. GBP/USD on the other hand, traded weaker below 1.1900 amid a solid surge in the number of new infections in the UK.
Gold is consolidating around $1,600, looking for a new direction. Oil is on the back foot, with WTI hovering around $24.
On the data front in the European session, the Eurozone credit supply data and the European Central Bank (ECB) Economic Bulletin will be eyed for fresh trading incentives. The Bank of England (BOE) monetary policy decision will hog the limelight, especially after the two emergency rate cuts announced already this month. The announcement will be out at 12:00 GMT.
Next of note remains the US Jobless Claims data, at 12:30 GMT, amidst the coronavirus outbreak-led economic disruption. Also, the US Q4 GDP and Trade Balance data will be eyed among other reports.
Apart from the data, the coronavirus updates will continue to play a pivotal role in influencing the broad market sentiment, as most governments are struggling hard to contain the virus spread.