
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The second half of this week is going to be well loaded with big events. All major currencies will be affected, for this reason, brace yourselves and prepare for some price action.
Strong jobs data provided by the Non-Farm Payrolls on December 6 boosted the US dollar. However, the upward movement of the US dollar does not gain full power as there still are serious concerns among the investors on the next stage of the US-China trade war. The deadline of December 15 for imposing new tariffs on the Chinese goods by the US is still in place, while the last comment from the US President Donald Trump was that he liked where the negotiations were going. This means that tensions will keep the market’s optimism in check until next Monday at the very least.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
Jump in to know the key market events and trading ideas for this week!
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
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