Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
China June data will demonstrate steady surge
A bunch of Chinese reports in coming weeks is supposed to demonstrate steady surge in the world's number two economy, though government measures to rein in the housing market as well as debt risks will probably drag on activity over the next quarters.
A great number of experts tell that Beijing's deleveraging campaign might affect surge because the property sector cools following policy curbs, even as key leaders have promised to maintain economic stability ahead of a major party gathering later in 2017.
Experts expect June's data issue to demonstrate overall steady surge with industrial output momentum maintained.
Slower credit surge along with higher funding costs due to supervisory tightening are supposed to have an impact on fixed-asset investment and also activities a bit later in 2017.
In June, China's industrial output is expected to gain 6.5% percent from the previous year, matching the soar in May. That’s what a Reuters survey of 34 economists revealed.
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.
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.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.