The USD continues strengthening. Overview for 12.01.2021
EURUSD continues retreating as the “greenback” is getting stronger.
The major currency pair is still trading downwards on Tuesday. The current quote for the instrument is 1.2140.
Global financial markets remain positive amid statements of President-elect Joseph Biden about his intentions to allocate trillions to fight the COVID-19 pandemic. Biden is scheduled to take over office as early as January 20th. He gets along with the democrats that control both the House of Representatives and the Senate and is not planning to quarrel with them in this matter. Bulls like it.
Investors are usually nervous when it comes to stimulus measures because they may boost inflation and have a negative influence on the USD. However, right now the 10-year bond profitability is on the front burner and it helps the “greenback” to keep afloat.
The statistics published earlier showed that the Sentix Investor Confidence added 1.3% in January after losing 2.7% in December and against the expected reading of +2.0%. However, the actual number is pretty good despite being worse than expected.
There won’t be many interesting reports from the USA and Europe today, that’s why the market is expected to drift along.