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Market participants increased their long positions in most Asian currencies versus two weeks ago. Bullish bets on the Chinese Yuan reached their highest value since December, as a Reuters survey disclosed on Thursday. It’s because the greenback languished close to multimonth minimums on political woes in the USA.
The survey was carried out between Tuesday and Wednesday. All responses were obtained before the Fed concluded its two-day gathering on Wednesday.
The key US bank maintained its benchmark lending rate and told it was keeping to its slow path of monetary tightening, though stressed both overall inflation as well as a measure of underlying price gains had went down. Apparently, the perceived dovish tone on inflation sent the greenback to a 13-month minimum versus a basket of currencies.
Long positions in the Chinese Yuan have rallied to their highest value since December. Meanwhile, the Korean won has demonstrated the most bullish bets since May.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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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