
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Up to now, the USD/CAD trading is unstable. There is no clear move. The pair is above the support at 1.2921. If the news on talks is positive, the pair will break below the support. The next one is at 1.2856. If the news is negative, the pair will go up. The resistance is at 1.2973. Today talks between the US and Canada start in Washington. Follow the news to not miss CAD’s moves.
AUD reacted with a plunge. AUD/USD broke below the pivot point at 0.7314. If the USD is stronger, the pair will fall further. The support is at 0.7272. Otherwise, it will be able to recover and return above the pivot point.
Up to now, Brent has been going down. The support lies at 74.50 (9- and 50-day MAs). In case of a deficit in the data, the price will go up. The resistance is at 77.45.
WTI has been moving down as well. In case of the supportive data (a deficit), the price will turn around and go up. The resistance is at 69.40. If the data shows a surplus, the price will go further down. The support is at 67.65.
That’s all for today! Follow market news with FBS!
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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.
The US unemployment claims are out on Thursday at 15:30 MT time.
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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