
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Hot topics:
Brexit, Brexit and one more time Brexit!
Traders seem to be fed up with the Brexit updates. However, this issue can’t be avoided.
The second special summit is scheduled for this Wednesday. The European Council meets to consider the request of the UK to postpone the Brexit deadline to June 30, which is currently scheduled for Friday, April 12. A day ahead, Theresa May is going to meet with French President Mr. Macron and German Chancellor Mrs. Merkel.
If the Council members are able to agree on the delay in Brexit, GBP traders will be in a good mood. However, if parties can’t come to an agreement, the UK will have to leave the EU without a Brexit deal that is dramatic for British politics, economy, and security.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The British monthly GDP is announced on Friday at 09:00 MT time.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
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.
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