This is what you need to know to trade today Monday, January 25:
Markets are moving higher as the Biden administration pushes stimulus ahead ahead of the Fed’s decision. The safe-haven US dollar is on the defensive, while the price of oil rises and gold remains stable.
President Joe Biden faces rejection of his fiscal stimulus bill $ 1.9 trillion, just a month after Congress passed a $ 900 billion package. Aid elements for COVID-19 are supported, while other issues such as an increase in the minimum wage are questioned. However, the news in Washington suggests that the administration is ready to move forward with the full proposal. Headlines are meant to move the markets.
Tensions are rising before the Federal Reserve decision Wednesday. The central bank is willing to leave rates unchanged and rule out any anticipated cuts to its bond buying program.
Coronavirus: Global cases are approaching 100 million and fears of different strains compete with the hope that the vaccine will provide a way out of the crisis. The United States is going to enact a ban on travel to South Africa, fearing the alternative. The controversial policy in the United Kingdom to delay the second injection of the vaccine could be copied by other countries and France is prepared to enter a new blockade at the national level. Johnson & Johnson They are ready to report the results of their one-shot covid vaccine during the week.
See: Coronavirus: Statistics, herd immunity, vaccination schedule and impact on financial and currency markets
He euro it is also rising against the dollar, although less than other currencies. The German IFO business climate is expected to lower in the January report. Christine Lagarde, the president of the European Central Bank, is scheduled to speak later in the day after leaving the bank’s monetary policy unchanged last week.
Cryptocurrencies: Ethereum stands out with a rise to new highs near the $ 1,500 level, while Bitcoin is trading around $ 33,000.
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