With the US away from their desks observing Martin Luther King Jr. Day, Monday proved to be a subdued day across financial markets. The greenback gave away some early gains while stocks and bonds consolidated.
The US dollar racked up small gains against its peers yesterday morning, pushing to the low $1.35s against the pound and $1.2050 versus the euro. Sentiment shifted as the afternoon session kicked off with the buck surrendering its meager gains to finish the day where it began.
Overnight GBPUSD and EURUSD have advanced against the buck with the pairs sitting around $1.36 and $1.21, respectively. The focus will remain on the US dollar today with comments expected from Janet Yellen at her treasury secretary confirmation hearing later today.
On the data front, German and eurozone ZEW sentiment readings are scheduled as well as a speech from Andy Haldane from the Bank of England.
8:19am, January 19th 2021
The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.