PMI reports from the EU, the UK, and the USA will be released during the day!
Tag - gbp
World shares gained on Wednesday on bets of hefty US spending after US Treasury Secretary nominee Janet Yellen urged lawmakers to "act big" to save the economy and worry about the debt later.
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
Jump in to get the technical analysis of GBP/JPY and GBP/USD!
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The GBP is the strongest and the USD is the weakest.
Here is the technical analysis of GBP/USD, EUR/JPY, silver, and AUD/JPY!
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
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 USD continues dipping, while the GBP is rising on hopes for the Brexit deal done today.