Home Article Market News BIAS FOR EACH CURRENCY ON 26 JANUARY 2021

BIAS FOR EACH CURRENCY ON 26 JANUARY 2021

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🇺🇸 USD – BULLISH
1️⃣ Uncertainty regarding the $1.9 trillion stimulus plan and concerns over disruption to coronavirus vaccine supplies, rising infections and the economic impact of lockdowns in Europe.
2️⃣ Demand for the US dollar is back on the rise amid escalating US-China tensions.

🇬🇧 GBP – BEARISH
1️⃣ The UK jobs report showed the unemployment rate jumped to its highest since mid-2016 when a second wave of Covid-19 cases hit the country.
2️⃣ Stricter border controls for all travelers this week to curb the spread of more virulent virus strains are expected.

🇪🇺 EUR – BEARISH
1️⃣ Investors remain concerned over record coronavirus infections, hospitalizations, deaths and tight travel restrictions.
2️⃣ The European Union threatened to block AstraZeneca exports of COVID-19 vaccines outside of the bloc after the pharmaceutical announced that deliveries will be reduced for a few weeks.
3️⃣ Last week, the ECB kept the door open to more stimulus but Christine Lagarde warned about the risks of rising infections and new lockdowns.

🇳🇿 NZD – BEARISH
1️⃣ Investors tempered hopes for the quick passage of $1.9 trillion in US stimulus as markets priced in comments from Senate Majority Leader Chuck Schumer that the bill may not be pushed through until mid-March.
2️⃣ Market participants also remained cautious over a highly transmissible COVID-19 variant in the community.

🇨🇦 CAD – BEARISH
1️⃣ investors digest prospects of further economic stimulus in the US, lower oil prices and concerns over rising coronavirus infections and the economic impact of lockdowns around the world.

🇦🇺 AUD – BEARISH
1️⃣ Investors tempered hopes for the quick passage of $1.9 trillion in US stimulus as markets priced in comments from Senate Majority Leader Chuck Schumer that the bill may not be pushed through until mid-March.
2️⃣ The negative risk tone weighing on the antipodeans.

🇯🇵 JPY – BULLISH
1️⃣ Japan’s House of Representatives looks set to approve a third supplementary budget for fiscal 2020 totaling 19.18 trillion yen (US$185 billion) to fund additional government measures to counter the novel coronavirus pandemic.
2️⃣ The risk-off tone support the safe-havens JPY.

🇨🇭 CHF – BULLISH
1️⃣ The risk-off tone support the safe-havens CHF.

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