US FED: coming to rescue

US FED: coming to rescue

Bad part

Initial jobless claims announced for this week amounted to 6.61mln people - not as high as the previous mark, but still, very heavy and much more than what the market was expecting. Bad? Yes, it's bad.  

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Good part

That's why the US Fed's freshly announced additional crisis support program comes right on time - another $2.3trln will be distributed across the US economy to help the situation.

Definitely, good

The stock market reacted very positively to this news, despite quite a sluggish and controversial beginning of the trading day this Thursday.

Specifically, on the daily chart, the S&P 500 index is trying to overcome resistance at 2,785. The layout of the Moving Averages on the H4 is positive. A break above that level will open the way up to 2,890 (100-week MA). There the price will meet significant resistance. All in all, the potential of the positive scenario will remain as long as the price trades above the short-term trendline support at 2,645.

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Therefore, catch the day, and use the situation. From our side, we will keep you posted.

Similar

Strong USD on Tuesday
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.

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
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. 

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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