Review of the dollar, euro, pound, yen, aussie and gold prices for January 4, 2021


Today during the Asian session, the EUR / USD pair is moving relatively stable, consolidating near the level of 1.2250. Market activity remains subdued as not all investors have returned from the New Year and Christmas holidays. There are also few new drivers, so traders are guided by the old signals. In the last week of last year, the US dollar dropped significantly in response to the approval of a new package of financial assistance to the national economy. In addition, traders reacted with sales to the expected failure in the Senate of the initiative of US President Donald Trump, who proposed to increase the size of the lump sum from $ 600 to $ 2,000. On Monday, the focus of investors is on a block of macroeconomic statistics on business activity in the euro zone from Markit.


Today, during the Asian session, the GBP / USD pair is growing, renewing record highs since the beginning of May 2018. At the beginning of the year, British investors are very optimistic, and the pound reacts positively to the fact of the signing of a trade agreement between the UK and the EU, which managed to complete the deal literally at the last moment. Despite a number of cautious comments from observers and officials themselves (primarily from London), the agreement is clearly a positive signal for the pound and the euro, given the persisting difficult epidemiological situation. The tool is further supported by a very active vaccination campaign in the UK, one of the first to approve a coronavirus vaccine. On Monday, traders are awaiting the release of manufacturing PMI statistics from Markit for December. In addition, an indicator of the volume of consumer lending and the number of approved mortgage applications for November will be released.


Today during the Asian session, the AUD / USD pair is showing mixed dynamics, consolidating near the strong resistance at 0.7700. Despite the weak positions of the US dollar, the instrument has not yet managed to return to the bullish sentiments of the last week. Weak macroeconomic statistics from Australia and China exert some pressure on the exchange rate. Thus, the PMI index in the Australian manufacturing sector from the Commonwealth Bank for December fell from 56 to 55.7 points, which was worse than the neutral forecasts of analysts. China’s manufacturing PMI index from Caixin for the same period corrected down from 54.9 to 53 points, which also fell short of investors’ expectations of 54.9 points.


Today during the Asian session, the USD / JPY pair is slightly declining, testing for a breakdown of the support at 103.00. The US dollar is not expected to be in demand in the first hours of the new trading calendar year, playing back the previous negative factors. At the end of December, the administration of the current US President Donald Trump was able to agree on the details of a new financial support plan for the American economy, which is in a difficult situation against the backdrop of a difficult epidemiological situation. The dollar is now facing a change of power, but analysts say President-elect Joe Biden’s initial course is unlikely to change much. At the beginning of the week, some support for the Japanese yen was provided by positive national macroeconomic statistics. So, the PMI in the manufacturing sector from Jibun Bank rose from 49.7 to 50 points.


Today, during the Asian session, gold prices are growing steadily, testing the 1920.00 mark for a breakout. The instrument is strongly supported by the weak positions of the US dollar, which is under pressure after the approval of the US President Donald Trump of a new package of measures to support the national economy. Among other things, the new measures provide for direct payments to households in the amount of $ 600, which is slightly lower than the $ 2,000 payment required by Trump. The latest initiative met with resistance in the Senate, where Majority Leader Mitch McConnell proposed postponing the vote on the issue to a later date. In turn, the global COVID-19 vaccination campaign is putting moderate pressure on gold’s position, which analysts hope will help it survive 2021 without repeating lockdowns.

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