Cable takes another peek above 1.3700

Cable takes another peek above 1.3700

2021-01-20 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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Fibonacci Levels

XAU/USD: There is a battle between bulls and bears. Price continues to consolidate between 23.6% and 38.2% retracement levels.

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US Market View

World shares gained on Wednesday on bets of hefty US spending after US Treasury Secretary nominee Janet Yellen urged lawmakers to "act big" to save the economy and worry about the debt later. Oil rose and the dollar slipped in response. At her confirmation hearing on Tuesday, Yellen said the benefits of a big stimulus package to counter the coronavirus pandemic were greater than the expenses of a higher debt burden. Joe Biden will be sworn in as the 46th President of the United States, ending a four-year revolt by the country against the world order that it created after World War 2 and consolidated after the collapse of the Soviet Union. US President-elect Joe Biden, who will be sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.

 

USA Key Point

  • Trump says 'remember me' and repeatedly mentions stock market high.
  • Canada December CPI +0.7% y/y vs +1.0% than expected.
  • Trump said that 'hopefully it's not a long-term goodbye' as he departed the White House.

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Cable takes another peek above 1.3700

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