U.S. stocks are set to reopen higher after the Martin Luther King Day holiday on Monday, with Yellen’s remarks a welcome reminder of the momentum behind economic stimulus measures.
Tag - eur
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Asian equity markets mostly rallied with risk appetite spurred as trade picked up from Monday’s holiday.
USD’s rally takes a pause, while riskier assets are modestly rising.
In this daily update, you have short-term and mid-term outlook for the main currencies and commodities weighted against the long-term horizon. You are also provided with suggestions on which to levels to look at and what the most likely trajectories are for USD, EUR, AUD, GBP, gold and WTI oil.
Global stocks were mostly lower on Monday, following the weakness on Wall Street on Friday that stemmed from the weaker-than-expected retail sales report for December.
Most analysts claim EUR/USD will dip to 1.2000. After that, the pair should reverse to the upside.
Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.
Market sentiment is not very distinctive…
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
While Donald Trump says his last words as the US President and Joe Biden brings his oath this week, the CAD, JPY, and EUR will see their Central Banks share their respective monetary strategies. In the meantime, while the USD gets stronger, oil and gold take a pause. So, how do we trade Forex this week?
Check the performance of the market for Friday