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What’s driving today’s upbeat sentiment A lot of the chatter out there is that risk assets are trading back up on the positive updates around coronavirus, mainly that US covid cases fell for the sixth consecutive day. But we think it’s more about Janet Yellen and the expectations around her confirmation hearing. [embedded content] For

CNN reports that Trump has taped a farewell video which is likely to be released on 19 January 2021  CNN says the video is Trump listing his accomplishments from his four years in office. On Wednesday morning, 8am Washington time, Trump heads off in Air Force One leaving the White House to incoming President Biden. 

Forex news from the European trading session – 18 January 2021 Headlines: Markets: JPY leads, AUD, NZD, CAD and GBP lag European equities mixed; E-minis flat Gold up 0.3% to $1,833.35 WTI down 0.4% to $52.15 Bitcoin up 1.2% to $36,965 It was a quiet session overall as the market embraces the similar themes from

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

GBP narrowly beats out JPY and USD It was a tight race at the top of the FX charts this week that grew much tighter after today’s drop in cable. Yet sterling has managed to hang onto its title, at least so far. It’s a few pips higher on the week versus the yen and

Media reports on moves from the European Union to lay out plans to limit its reliance on the USD Citing a draft policy paper from the European Commission that will be adopted on January 19. The paper points to the EU’s vulnerability to US sanctions and to financial risks. Measures proposed include tighter controls on

CFTC commitments of traders: EUR longs move back up to December highs Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly forex futures positioning data from the CFTC EUR long 156K vs 143K long last week. Long increased by 13K GBP long 13K vs 4K long last week. Longs

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

Pfizer makes a statement after having set a new goal of producing 2 billion coronavirus vaccine doses this year, up from the initial 1.3 billion doses The firm says it is scaling up manufacturing operations to increase dose availability and output, and that involves making modifications to its process and facilities. In turn, that will

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

Powell will be participating in a Princeton Economics’ webinar If you’re wondering what will be discussed, the event agenda highlights that Powell is slated to touch on an array of topics as per the following: On Thursday, January 14, 2021, Federal Reserve Chair Jerome Powell will join Markus Brunnermeier for an online conversation. The following

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

Latest data from the Mortgage Bankers Association for the week ending 8 January 2021 Market index 965.2 vs 827.2 prior Purchase index 338.9 vs 313.8 prior Refinancing index 4,706.3 vs 3,917.6 prior 30-year mortgage rate 2.88% vs 2.86% prior That is a major jump in mortgage activity to start the new year, with both purchases

A heads up for Thursday US time – Biden to outline his plans, he is seeking bipartisan support.  The proposal is expected to include  US$2,000 stimulus checks an extension of enhanced unemployment insurance vaccine distribution/delivery funding and miscellaneous funding for cities, states, schools, child care (and more) While Biden will seek support across the two

DAX turns flat as European equities give up opening gains For bank trade ideas, check out eFX Plus Elsewhere, US futures are still holding on to slight gains with S&P 500 futures up 0.2% while Nasdaq futures are up 0.3%. Meanwhile, 10-year Treasury yields are nudging a little higher again as it is up 1.2

(ICYMI) Goldman Sachs forecasts oil (Brent) to $65 by the northern summer Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT These reports re the Goldman Sachs outlook for oil hit during US time,. just posting as an ICYMI.  From the GS note: we are pulling forward our forecasted oil

UBS revises lower its 2021 GDP growth forecast for the euro area In a note, economists at the firm says that there is a high risk of a contraction in both Q4 2020 and Q1 2021 for the Eurozone economy, due to new coronavirus restrictions. Thus, leading to a double-dip recession to start the new

Leader of the US House of Representatives Pelosi Says Trump is an imminent threat to the US constitution and democracy The House will vote on a measure seeking Trump’s removal under the 25 Amendment The impeachment vote in the House will be this week, after Pence is given a few days to decide on using