The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
USD: support from the labor data
While the EUR is celebrating lockdown ease and financial aid discussions in the European Commission, the USD is celebrating that continuing jobless claims for the week ending March 16 are now at 21.1mln which is the first decline since the virus hit. That means, businesses are re-starting their operations. Will the USD take that to reverse the bullish spree of the EUR? The resistance of 1.1030 will show.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!