Home Article Market News BIAS FOR EACH CURRENCY ON 22 JANUARY 2021

BIAS FOR EACH CURRENCY ON 22 JANUARY 2021

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🇺🇸 USD – BULLISH
1️⃣ A general decrease in risk appetite as focus returns to coronavirus and as general optimism over the new Biden administration cooled.
2️⃣ China put around 22 million people under lockdown earlier on the week and in Europe, countries continue to battle with record infections, hospitalizations, and deaths and tight restrictions.

🇬🇧 GBP – BEARISH
1️⃣ PM Boris Johnson warned the UK’s third lockdown could last until summer.
2️⃣ Latest PMI data pointed to a steep slump in business activity in January, with services once again especially hard hit and manufacturing seen growth almost stalling.
3️⃣ Retailers struggled to recover in December from a partial coronavirus lockdown in November, with retail sales up only 0.3%, well below market expectations of 1.2%.

🇪🇺 EUR – BULLISH
1️⃣ The ECB left its interest rate unchanged at a record low and kept the door open to more stimulus on Thursday.

🇳🇿 NZD – BEARISH
1️⃣ Troubling Covid-19 trends as US President Joe Biden signed 10 executive orders aimed at jump-starting his national COVID-19 strategy to increase vaccinations and testing as the country continues to struggle with the pandemic.
2️⃣ European Central Bank President Christine Lagarde warned the virus continues to pose a serious risk after policymakers voted to keep pumping unprecedented amounts of stimulus into the economy.
3️⃣ The BusinessNZ Performance of Manufacturing Index sank to 48.7 in December, as rising COVID-19 uncertainty and a slow global vaccination program dented sentiment.

🇨🇦 CAD – BEARISH
1️⃣ Declining in oil prices weighs in on the CAD.
2️⃣ CAD pressured by risk-off tone.

🇦🇺 AUD – BEARISH
1️⃣ Troubling Covid-19 trends as US President Joe Biden signed 10 executive orders aimed at jump-starting his national COVID-19 strategy to increase vaccinations and testing as the country continues to struggle with the pandemic.
2️⃣ European Central Bank President Christine Lagarde warned the virus continues to pose a serious risk after policymakers voted to keep pumping unprecedented amounts of stimulus into the economy.
3️⃣ Preliminary data showed retail sales in Australia fell 4.2% mom in December, the first drop since September and worse than consensus

🇯🇵 JPY – BULLISH
1️⃣ The negative risk tone supports the safe-havens JPY.

🇨🇭 CHF – BULLISH
1️⃣ The negative risk tone supports the safe-havens CHF.

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