
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
WTI is slightly above $65.12 a barrel, Brent is climbing to $70.However, the oil market is still under pressure because of the concerns about the US-Iran nuclear deal and trade wars’ worries.
Moreover, trade wars’ tensions are still an answered question.
The yen has left a few points but remained near 106. Let’s look if the US dollar finds a support to break the resistance at 106.50.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The British monthly GDP is announced on Friday at 09:00 MT time.
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.
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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