On his first day as president, Mr. Biden signed a series of executive orders unwinding the most controversial aspects of the previous administration’s policy. Financial markets’ optimism was nevertheless rather fueled by recovery hopes linked to the big stimulus package Mr. Biden expects to be approved by the Congress as soon as possible. The EUR/USD is on the rise again this morning, around 1.2130, but after an unexpected downward correction yesterday. The GBP reached its highest level in 8 months vs the euro (0.8838) on stronger-than-expected inflation figures, but also likely because the country’s vaccination campaign looks far ahead the other major countries, which may allow an exit from lockdown quicker than elsewhere, as soon as March. ECB meeting today.
Overnight, the release of Japanese trade data showed exports on the rise on a yoy basis for the first time since November 2018, but imports remained down 11.6%, as domestic demand remains weak.
Get more analysis and data with our Premium subscription
Ask for a free trial here
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
We will get back in touch with you soon.
Don’t forget to follow us on twitter!