Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service

HELP ME CHOOSE START QUIZ

Risk turned on, dollar trades uneven across the board

[ad_1]

Here is what you need to know on Thursday, January 21:

Joe Biden became the 46th US President, in a quiet inaugural ceremony. Wall Street soared to record highs as he was sworn in, holding on to gains by the end of the day. Hopes for more stimulus underpin equities.  

The dollar had an uneven performance across the board, as investors eagerly wait for a catalyst. So far this week, the macroeconomic calendar had little to offer, although the Bank of Canada opened the central banks’ book of the year.

Canada also reported December inflation figures, which were mostly discouraging as the annual CPI resulted at 0.7% against expectations of 1.0%. Nevertheless, and on-hold BOC that pledged to keep rates low until inflation reaches the 2% inflation backed the CAD, alongside the solid performance of equities.

Better than anticipated UK inflation helped GBP/USD to reach fresh multi-month highs above the 1.3700 figure, but the pair retreated afterwards, as the dollar appreciated against its European rivals.

In the UK, PM Boris Johnson said that record coronavirus-related deaths have not yet found a ceiling. More deaths are expected due to the spread of contagion of the new variant, although contagions keep receding due to the strict lockdown measures adopted last December.

The Aussie, on the other hand, surged past 0.7700 vs the dollar, also following the lead of equities and commodities.

Gold recovered its shine and traded as high as $ 1,870 a troy ounce. Crude oil prices, however, remained within familiar levels, posting modest intraday advances. The barrel of WTI trades around $ 53.30.

Cryptocurrencies Price Prediction: Ripple, Cardano & Polkadot – American Wrap 20 January

[ad_2]

Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: Brokerspilot.com helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While Brokerspilot.com has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by Brokerspilot.com, nor shall it bias our reviews, analysis, and opinions.

      en_USEnglish
      Best Forex Brokers Reviews
      Logo
      Reset Password
      Compare items
      • Total (0)
      Compare
      0