This is what you need to know to trade today Monday, January 11:
Market sentiment has soured after the US Non-Farm Payrolls showed the first job loss since last spring and the Federal Reserve is reluctant to act. The dollar is rising along with Treasury bond yields. The coronavirus continues to rage while the distribution of vaccines has not yet increased. Bitcoin and gold are on the defensive.
He United States labor market it lost 140,000 jobs in December, worse than expected, but was partially offset by previous upward revisions and an increase in wages. The highlight of this week’s economic calendar is US retail sales.
Richard Clarida, Vice Chairman of the Federal Reserve, was reluctant to expand the bank’s bond purchase scheme. Fed officials appear to analyze the current difficulties and look toward vaccine rollout and recovery. His comments sparked higher bond sales, boosting their yields and supporting the dollar. Fed Chairman Jerome Powell will speak Thursday.
He oro, which rose in response to the “blue wave,” has fallen as yields on US debt rise, and is now trading below $ 1,844.
The dollar had already risen beforehand, in response to Democrats winning control of the Senate and interested in providing a generous stimulus to the economy. President-elect Joe Biden will set his economic agenda on Thursday.
The outgoing President, Donald Trump, faces a possible second impeachment trial after his supporters stormed the Capitol last week. Twitter and Facebook permanently suspended Trump’s accounts, accusing him of inciting violence. The political drama in Washington has had little effect on markets.
Infections, deaths and hospitalizations due to COVID-19 they continue to rise in the United States and Europe. The UK is considering further restrictions as London hospitals are under immense pressure. Governments are under increasing pressure to increase their vaccination campaigns, especially in continental Europe, where immunizations reached less than 1% of the population.
He Bitcoin is undergoing a sell-off, trading around $ 32,000 after approaching $ 42,000 last week. Ethereum is also far from the highs.
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