Thursday Preview to the Markets

Market Preview

The Bank of England announces its latest policy decisions today at 14.00 GMT+2.  As with the US central bank the day before, no changes in the actual policy settings are expected. 

In the case of the Monetary Policy Committee however, some analysts are not expecting any ‘push back’ on the recent rise in yields on Gilts

The European Central Bank may also be in the headlines as several top officials, including its boss, Christine Lagarde, and Vice President, Luis de Guindos, are set to deliver public speeches today. 

Across the Pond, weekly US jobless claims data are expected to show that they continue to drift lower. 

Also, due out is the Philly Fed’s closely followed regional manufacturing index for March. 

Bitcoin Update 

Bitcoin recently set a new all-time high when it traded above $61,000 according to Cointelegraph. With the surge in its price, the world’s largest crypto by market capitalization is now worth more than the combined value of the top two payment platforms Mastercard and Visa. BTC is now even more valuable than the combined market cap of the world’s three largest banks JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China (ICBC). 

Now that Bitcoin price has reached the $60,000 level, many analysts have set their targets on the $72,000 zone, followed by $100,000.  

The overall cryptocurrency market cap now stands at $1.118 trillion and Bitcoin’s dominance rate is 61.9%. 

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