The era of COVID-19 cheap money is over. Who is afraid of the Fed's tightening cycle? Apparently not stock-market investors.
EUR/USD bulls target again 1.24 area
2021-01-19 • 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 after a remarkable sell off is trading above 23.6% retracement area. Trend remains weak.
US Market View
U.S. stocks are set to reopen higher after the Martin Luther King Day holiday on Monday, with Yellen’s remarks a welcome reminder of the momentum behind economic stimulus measures. Janet Yellen, the former head of the Federal Reserve who is now Joe Biden’s nominee for Treasury Secretary, will have her confirmation hearing before the Senate Finance Committee. Yellen’s first task will be to persuade Congress to pass Biden’s $1.9 trillion spending package to lighten the burden of the pandemic on cash-strapped households and businesses.
The surge in Covid-19 at the end of 2020 appears to be receding. Hospital admissions tied to the virus fell for the sixth straight day in the U.S. to their lowest since the start of the year, although some distortions due to holiday-induced late reporting are possible.
USA Key Point
- EURUSD retraces and moves above some technical levels on the way
- The EUR is the strongest and the JPY is the weakest
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