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As the Brexit situation does not become any brighter, the British pound suffers, too. The British Prime Minister Theresa May is expected to step down from her post by the end of June. This fact does not reduce the risks of a no-deal Brexit due to the lack of certainty in the final divorce deal with the EU.
However, today the GBP may be supported. The news that Theresa May will make the proposal for her deal at 17:00 MT has pushed the cable to the resistance at 1.2822. If she announces significant changes today, it will rise higher. On the other hand, if she fails again it will slide below the 1.27 level. The next support will lie at 1.2603.
The stochastic indicator has formed a crossover in the oversold and RSI has tested the border of the oversold zone.
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.
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 US dollar’s weakness offered a boost to emerging-market currencies and oil.
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