US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
AUD/JPY: risk on returns and gains momentum for longer
2021-01-14 • Updated
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold struggles to move higher and remains below 23.6% retracement area.
US Market View
President-elect Biden will present details of his plans to support the economy through the pandemic, while Federal Reserve chairman Jerome Powell may offer some reaction in a speech later. Weekly jobless claims are expected to rise slightly. Germany’s economy shrank by less than feared in 2019 and China’s trade surplus ends the Trump presidency at a record high. The House voted for the second time to impeach Trump on Tuesday but there will be no trial in the Senate any time soon. OPEC releases its monthly report on the oil market. Here is what you need to know in financial markets on Thursday, January 14th.
President-elect Joe Biden will announce details of his plans for extra stimulus to support the economy through the pandemic. U.S. stock markets are indicated to open slightly higher but are likely to stay in modest ranges pending Biden’s announcement.
USA Key Point
- Fed chair Powell to speak at 1730 GMT today
- German economic growth this year likely weaker than expected
- Germany RKI president supports we will have the pandemic under control by the end of this year
With EUR/JPY, there are several technical observations that we may put to practical use and demonstrate some important basics of technical analysis. Let's get going.
Asian equity markets traded mixed with cautious gains in the major regional bourses after the tech-rebound on Wall St. and better than expected Chinese trade data
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