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.
Greek current account deficit extends in May
In May, Greece's current account deficit edged up, compared to the same month last year because of wider trade as well as primary income gaps, as the Bank of Greece reported on Friday.
The data demonstrated that the deficit accounted for 582 million euros, compared to 457 million euros posted in May 2016. As for tourism revenues, they rallied moderately from 1.075 billion to 1.094 billion euros.
A year-on-year soar of up to 137 million euros in the deficit of the balance of Greece goods turned to be mainly attributable to a leap in the deficit of the non-crude balance of the country’s goods as the Bank of Greece informed.
Additionally, non-crude exports of goods managed to grow 15.3%, while crude exports rose 17.5% at constant prices, as the key bank told.
A 111 million euro ascend in the major income account deficit was mostly caused by lower net interest, not to mention dividend as well as revenue receipts.
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.
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.