This is what you need to know to trade today Tuesday February 16:
Market sentiment remains bullish as Americans return from a long weekend and President Biden is poised to push through his stimulus plan. Oil spreads gains, this time due to intense cold in the United States, while Bitcoin flirts with the $ 50,000 level and optimism for vaccines prevails.
Stimulus in USA: President Joe Biden is poised to advance a covid relief plan that can hit $ 1.9 trillion on the first business day since his predecessor Donald Trump was acquitted. The news from Washington is going to shake the markets.
The futures of S&P 500 and Asian stocks have been expanding their gains, while US Treasuries are sold. Rising yields, with 10-year bond yields rising to 1.23%, has failed to lift the dollar.
The GBP/USD stands out by advancing above 1.39. The UK reported the lowest number of COVID-19 infections since October and the vaccination campaign continues at a rapid pace.
The oil raw WTI It has been consolidating its gains above $ 60, originally underpinned by hopes for a recovery fueled by vaccines and lower supplies from OPEC + countries. The most recent upward move comes from a winter storm in the US, which has left five million customers without power in several states. Problems in Texas have affected production.
Bitcoin has reached the $ 50,000 level on some exchanges, resuming his gains after taking profit on Monday. The granddaddy of cryptocurrencies has been fueled by institutional interest from Morgan Stanley, Mastercard, and Tesla.
The EUR/USD it has passed the 1.2150 level amid the weakness of the US dollar. The economic calendar presents an update of the eurozone growth figures and the German ZEW economic sentiment.
Later in the day Federal Reserve Governor Lael BrainardYou, and your colleague Mary Daly, are going to speak and can reiterate that the central bank prioritizes achieving full employment at the expense of high inflation.
See: Five factors that will move the US dollar in 2021 and not necessarily lower
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
