Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
China's property market goes down
In Beijing, in June, home property prices went down for the first time for more than two years, while Shanghai further dipped and Shenzhen stood still, pointing to considerable cooling in China's number one real estate markets, as official data unveiled.
Nationwide, home price surge decreased moderately in June because government efforts to keep prices in check put pressure on larger cities, although smaller cities managed to maintain rapid surge.
Folks in the industry expect home price surge in China's key cities to stay on a moderately slowing trend for the next 12 months.
Average new home prices in China's 70 key cities tacked on 10.2% in June from last year, decelerating from May's 10.4% profit, according to Reuters calculations built around an official survey issued on Tuesday.
New home prices inched up 0.7% in June on a monthly basis, which is the same outcome as last month's reading. That’s what Reuters calculations built around data published by the National Bureau of Statistics 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.