Coronavirus update UK: Death toll increased by 24% to 2,921

Eren Sengezer FXStreet

The total number of confirmed coronavirus infections in the UK was 33,718 as of 0800 GMT on April 2nd, the health ministry reported on Thursday.

"Of those hospitalised in the UK who tested positive for coronavirus, 2,921 have sadly died," the health ministry added. This number presented a 24% increase from the previous day.

Market reaction

The UK's FTSE 100 Index, which gained as much as 0.7% earlier in the day, made a sharp U-turn in the last hour and was last seen erasing 0.76% on the day at 5,413.06 points. Additionally, the GBP/USD pair erased all of its daily gains to turn flat near 1.2375.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD clings to daily gains in the low 0.7200s

AUD/USD battles to maintain the positive performance ahead of the opening bell in Asia. The pair navigates the low 0.7200s amid marginal losses in the Greenback, as investors continue to closely follow developments on the geopolitical front. Moving forward, the Melbourne Institute will release its Consumer Inflation Expectations for the current month on Thursday.

USD/JPY rises above 153.50 on renewed USD strength

USD/JPY shakes off the bearish pressure and trades above 153.50 in the American session on Wednesday. The US Dollar (USD) stages a rebound following the US Treasury buyback announcement and helps the pair gain traction. Nevertheless, solid Japanese data reinforce expectations that the BoJ will continue normalising monetary policy, lending further support to the Yen and capping the pair's upside for now.

Gold regains balance above $4,400

Gold rebounds on Wednesday, snapping a three-day losing streak and reclaiming the are beyond the key $4,400 mark per troy ounce. The precious metal’s bounce comes amid further selling pressure on the US Dollar and steady uncertainty on the geopolitical front.

Bitcoin and Gold Outlook: BTC and XAU kick-start recovery ahead of key economic events

Bitcoin (BTC) holds above $79,000, maintaining resilience on Wednesday as the broader cryptocurrency market consolidates gains. Gold (XAU) is steady above $4,400, underpinned by a measured shift toward risk-on sentiment among investors.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.