This is what you need to know to trade today Friday, February 12:
Markets are relatively calm amid the Asian holidays and as investors await news of stimulus. Rising yields have helped the dollar rally. US consumer confidence and up-to-date vaccine news are in the spotlight.
The US stocks have risen, with the NASDAQ index hitting all-time highs. The move into equities has been accompanied by a move away from bonds and rising yields have supported the dollar’s recovery. The EUR/USD it is trading closer to 1.21, while GBP / USD has fallen below 1.38. The movements have been relatively subdued due to the Chinese New Year holidays in several Asian countries.
US data: After several weeks of encouraging numbers, jobless claims disappointed with an increase to 793,000. The last significant release of the week is preliminary consumer sentiment from the University of Michigan for February.
See US University Michigan Consumer Sentiment Preview for February: The Visual Test
The trial of former President Donald Trump continues to drain political energy in Washington, pushing the wording of the aid bill into the background. The discussion about the details of stimulus controls seems to be the main stumbling block that separates the moderate Democrats from the liberals.
The oro it has been extending its decline, changing hands around $ 1,820 after breaking above $ 1,850 earlier in the week.
The GBP/USD it will move in response to the first release of the Gross Domestic Product figures for the fourth quarter. Modest growth is expected.
The The United Kingdom and the United States have been accelerating their vaccination campaigns, advancing the deadlines. Britain is relying on AstraZeneca doses, which will likely be produced at a faster rate. Data from Israel, the world leader in immunization, is showing success in preventing serious diseases. Patrick Harker of the Federal Reserve said the US economy will be “choppy” until people get vaccinated.
Cryptocurrencies: Bitcoin has been consolidating its gains and is trading around $ 47,000, Ethereum above $ 1,700 and XRP has been advancing above $ 0.50. The Dogecoin, touted by Elon Musk, owner of Tesla, is at its highest.
The US Department of Justice has subpoenaed executives from Robinhood and other brokerages regarding their actions related to the GameStop frenzy.
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