Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
Japan’s labor demand, inflation and factory output point to firm economic recovery
In August, Japan's core inflation accelerated, industrial output tacked on more than expected, while demand for labor was the highest for more than 40 years. That’s a definite sign of firm momentum in the world's number three economy.
The storm of economic data should spur optimism as for the outlook for surge, although Prime Minister Shinzo Abe's intention to call a snap election has generated some uncertainty over the country’s economic policy.
There was also a sort of uneasiness as for monetary policy after a summary of the Bank of Japan's most recent gathering revealed one board member appreciated an expansion of stimulus because consumer prices are still distant from the key bank’s 2% inflation objective.
Nationwide core consumer price index, including crude products but excluding volatile fresh food prices, ascended 0.7%, matching a median market prediction. It turned to be the eighth straight month of revenues in the index.
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Strong USD on Tuesday
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.
Will the USD grow with the US labor market?
The US unemployment claims are out on Thursday at 15:30 MT time.
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ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Markets await Biden to unveil "trillions dollars"
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.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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