
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
2021-01-20 • Updated
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.
XAG/USD: Silver bulls return and send price at the 38.2% retracement area.
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.
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
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