Risk-on momentum remains strong

Risk-on momentum remains strong

2021-01-20 • Updated

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Ichimoku Kinko Hyo

USD/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

XAG/USD: Silver bulls return and send price at the 38.2% retracement area.

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EU Market View

Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall Street. Looking ahead, Asian shares climbed to a record high on Wednesday after US Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world's largest economy ride out a pandemic-driven slump. US President Donald Trump, in a farewell address released on Tuesday, touted his legacy, and wished luck to the new administration even though he steered clear of acknowledging his successor by name.

Highlights from macroeconomic calendar include UK, Eurozone, Canadian inflation, BoC rate decision and press conference, US Inauguration Day, BoE's Bailey speeches.

EU Key Point

  • Dollar nerves starting to be more evident as the session gets underway.
  • Germany discovers new coronavirus variant in 35 hospital patients.
  • Germany reports 15 974 new coronavirus cases, 1 148 deaths in latest update today.

 

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