This is what you need to know to trade today Friday, January 22:
Markets are falling and the safe-haven dollar is gaining traction amid concerns about prolonged lockdowns, bottlenecks in vaccinations and obstacles to passing the US stimulus. President Biden delivers an economic speech at the end of the day, after the PMIs. The range of Bitcoin is expanding.
After several days of earnings, the global stocks are on the defensive and the safe-haven dollar is gaining traction, especially against commodity currencies. Concerns about travel limitations in Europe, an extension of Britain’s lockdown until summer and also restrictions in Hong Kong are hurting confidence.
He President Joe Biden presented his pandemic plan, which aims to treat the coronavirus as a national emergency and vaccinate 100 million Americans in 100 days. Critics say the immunization plan is not ambitious. Biden give a speech about the economy at the end of the day amid the Republican reservation on parts of his $ 1.9 billion stimulus deal.
He oro it is off the beaten track amid concerns that the president’s aid package will not fully materialize. The XAU / USD trimmed some of its investiture-related gains.
He Bitcoin sank below $ 30,000 and it rallied above that level as volatility increased. Cryptocurrencies have been receiving more attention from a broader community of investors in recent weeks, following the rise of BTC.
He European Central Bank he kept his policy unchanged and seemed a bit more optimistic. However, President Christine Lagarde later urged caution, pushing the euro back from a short-lived bullish move. Purchasing manager indices in the euro zone are expected to show a widening divide between growth in the manufacturing sector and a struggling service sector.
See Eurozone January PMI Preview: Manufacturing looks to the future
He GBP/USD It has moved away from 1.37 amid the market’s bad mood and disappointing UK retail sales, which advanced just 0.3% in December. COVID-19 cases in Britain are declining and the vaccination campaign continues at full speed. Preliminary UK PMIs for January are on the agenda.
Australian retail sales figures for December disappointed with a 4.2% drop, pushing AUD / USD lower.
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