This is what you need to know to trade today Thursday, January 21:
Markets have welcomed President Biden’s first moves in office, amid high hopes for fiscal stimulus. The ECB is prepared to follow the BoJ and leave rates unchanged. After Australia has reported upbeat employment data, the focus is on initial weekly US jobless claims.
President Joe Biden entered the White House and signed a long list of Executive Orders, such as canceling the Keystone XL pipeline, as expected and already discounted in the price of the Canadian dollar. The administration said it aimed to reach a bipartisan agreement on the $ 1.9 trillion COVID relief plan.
He S&P 500 index it hit new highs on inauguration day and is on track to continue higher on Thursday. The safe-haven US dollar is declining, especially against currencies linked to commodity prices. Gold broke out of range and broke the $ 1,870 level.
Christine Lagarde, president of European Central Bank, you can issue a warning about the high euro exchange rate in your first rate decision of the year. The ECB is prepared to leave its monetary policy unchanged and discuss weak inflation, the current damage from the virus and the outlook for the rest of the year.
See: ECB Preview: Lagarde Could Unleash “Buy Downside” Opportunity By Trying To Lower Euro
He GBP/USD has been trading around 1.37 as coronavirus deaths hit new highs in the UK, but new cases are dropping.
He Bank of Japan remained unchanged as expected, slightly improving its growth forecast for fiscal 2021.
He USD / CAD It is trading closer to 1.26 after the Bank of Canada updated its growth forecast and hinted that it could cut its bond buying program if the economy grows rapidly. WTI crude oil is stable around $ 53.
Australia reported an increase of 50,000 new jobs in December and the unemployment rate fell to 6.6%, better than expected. AUD / USD is advancing towards 0.78, supported by the weakening of the USD.
See: Main raw materials to operate during 2021 amid a global reflation: Silver and copper will eclipse the price of gold
Apart from the ECB, initial US unemployment claims They are of great interest after their disappointing jump last week. They are expected to decline from close to a million.
See: Preview of Initial US Unemployment Claims: Waiting for Second Recovery
Cryptocurrencies: Bitcoin has been on the defensive, sliding below $ 35,000. Ethereum is also struggling.
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