Economic data from the U.S, stimulus news from Capitol Hill, and the UK Parliamentary vote on Brexit will be in focus today.
What holiday-related events impact the stock market？ Consult and bookmark our stock market holidays calendar to keep track of key dates affecting shares.
Trader confidence is high on the US stimulus package, the EU-UK trade deal and the coronavirus vaccine rollout, suggesting further gains for ‘risk-on’ assets.
Boris Johnson‘s government will draft in the armed forces to help with coronavirus testing in schools, as pressure builds on the prime minister to delay students’ return after the holidays amid a surge in cases.
USD/CAD managed to settle below the 20 EMA and is trying to settle below the next support level at 1.2800.
The BOJ Summary of Opinions showed policymakers were divided on how far to go in tweaking its stimulus program.
US dollar has rallied after initially falling on Tuesday against yen. Ultimately, the ¥104 level is an area above that could offer significant selling pressure.
The trade deal that both sides of the English Channel say reflects a new era of cooperation is essentially a sideshow for the City of London, which is still awaiting its own seal of approval from the European Union.
When Prime Minister Boris Johnson advocates narrowing the gap between London and the rest of England -- what he calls “leveling up” -- this probably isnt what he has in mind.
In todays analysis I will focus on the Japanese Yen, which is part of three very interesting setups.
GBP/USD is creating an increased price volatility between 1.3205 support and 1.35 resistance zones. That said, price action remains in a solid uptrend.
The direction of the USD/JPY on Tuesday is likely to be determined by trader reaction to the pivot at 103.388.
The early price action suggests the direction of the NZD/USD on Tuesday will be determined by trader reaction to the pivot at .7087.
The Euro rallied a bit during the trading session on Monday, but then gave back the early gains as we continue to see a lot of choppiness and uncertainty.
AUD/USD is moving towards the resistance level at 0.7635.
GBP/USD is trying to settle above the nearest resistance level at 1.3575.
The direction of the AUD/USD and NZD/USD is expected to be guided by investor demand for risk.
House Democrats are expected to vote Monday on a standalone bill that would provide direct payments to Americans of $2,000 a person.
Although the minor trend changed to down on Monday, the strong rebound suggests the move was likely fueled by sell stops rather than aggressive shorting.
The New Zealand Dollar is considered to be a barometer of risk sentiment due to its close ties with the global commodities trade.
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