Joe Biden takes the presidency in the US, the Forex market is mostly bullish. We were correct with many of our short-term projections yesterday. Let's see what happens today and what the week brings.
Information is not investment advice
In this daily update, you have short-term and mid-term outlook for the main currencies and commodities weighted against the long-term horizon. You are also provided with suggestions on which to levels to look at and what the most likely trajectories are for USD, EUR, AUD, GBP, gold and WTI oil.
Market sentiment is not very distinctive…
Check the performance of the market for Friday
WTI oil price doesn't seem to care much about what's happening in the US Capitol. Why should it, right? Anyway, the USD is trembling - see the market update.
10-year US Treasury yields reached 1.15%, which is the highest level since March. Higher yields should increase the demand for the USD.
The Brexit deal may be reached soon and the GBP is surging amid pre-Christmas atmosphere
Investors continue to assess the vaccine rollout versus fears over a new virus variant. US stocks and oil slipped as Donald Trump threatened not to sign a long-awaited stimulus bill into law.
The GBP doesn't know where to go while the Brexit negotiators are trying their last chances, gold is at $1 900
The USD dollar is regaining ground versus the EUR, the GBP, the JPY, and the AUD. Watch the video to learn what is moving the Forex market today!
There are reasons for traders to be optimistic and sell the USD versus the riskier currencies. However, the advance of EUR/USD, GBP/USD, and AUD/USD became extensive and a correction may happen.
Vaccine news, Brexit developments, and hopes for the US stimulus package are the main market drivers! How to start the week?