Home Article Market News BIAS FOR EACH CURRENCY ON 14 JANUARY 2021

BIAS FOR EACH CURRENCY ON 14 JANUARY 2021

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🇺🇸 USD – BULLISH
1️⃣ The virus worries grow and political turmoil intensifies with Donald Trump becoming the first President to be impeached twice.
2️⃣ The DXY index traded steadied above 90.00 levels

🇬🇧 GBP – BULLISH
1️⃣ Hopes for a quicker economic recovery in Britain as the vaccination rollout continues.
2️⃣ Market pricing for negative interest rates from the Bank of England has been pushed back to June 2021, compared with May 2021 previously estimated, after governor Andrew Bailey warned that cutting rates below zero would create complications for the banking sector.

🇪🇺 EUR – BEARISH
1️⃣ Concerns over rising COVID-19 cases, fresh lockdowns and the slow pace of vaccination.

🇳🇿 NZD – BULLISH
1️⃣ The annual yield on New Zealand government 10-year bonds has climbed to 1.12% from a low of 0.44% in September.
2️⃣ The ANZ World Commodity Price Index lifted 1.8% in December
3️⃣ Investors braced for President-elect Joe Biden’s COVID-19 spending plans, with trillions in new spending expected to be unveiled including heftier direct stimulus payments to Americans.

🇨🇦 CAD – BEARISH
1️⃣ Declined in oil prices weighing on the CAD.
2️⃣ Concerns over rising COVID-19 cases, fresh lockdowns and the slow pace of vaccination.

🇦🇺 AUD – BULLISH
1️⃣ Investors braced for President-elect Joe Biden’s COVID-19 spending plans, with trillions in new spending expected to be unveiled including heftier direct stimulus payments to Americans.
2️⃣ The number of approved dwellings in Australia increased by 2.6% month-over-month in November, the third straight month of rise following stimulus measures implemented by federal and state governments.

🇯🇵 JPY – BEARISH
1️⃣ Investors retreated after Japan expanded a state of emergency in the Tokyo area to seven more prefectures amid a steady rise in cases.
2️⃣ Consumer spending is forecast to fall by more than 2 trillion yen (US$19.3 billion) as the declaration could lift unemployment and cut sales at eateries and retailers, corresponding to a 0.4% contraction in Japan’s annual gross domestic product.

🇨🇭 CHF – BEARISH
1️⃣ The positive risk tone weighing on the CHF.

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