Review of the dollar, euro, pound, yen, aussie and gold prices for January 5, 2021


Today, during the Asian session, the EUR / USD pair is growing moderately, developing an uncertain “bullish” signal that had formed the day before. On Monday, the European currency was actively strengthening and practically renewed its record highs since April 2018, however, with the opening of the American session, the dollar managed to win back some of its losses. Yesterday, European investors focused on the December business activity statistics, which somewhat disappointed the markets. Thus, the index of business activity in the manufacturing sector of the euro zone in December fell from 55.5 to 55.2 points, which turned out to be better than the neutral forecasts. A similar indicator in Germany has adjusted from 58.6 to 58.3 points, worse than market forecasts. On Tuesday, traders await the publication of November data from Germany on retail sales, as well as on the dynamics of the unemployment rate and change in the number of unemployed in December.


Today during the Asian session, the GBP / USD pair is trading in different directions, consolidating after a moderate decline the day before, which did not allow it to gain a foothold at new record highs since May 2018. Noticeable pressure on the pound is exerted by the difficult epidemiological situation that has developed in the UK and forced the official authorities to go into a third quarantine. At the same time, the country is beginning to vaccinate with the drug from AstraZeneca, which, analysts hope, will accelerate the campaign. The national macroeconomic statistics released yesterday supported the British currency moderately. Thus, the index of business activity in the manufacturing sector from Markit for December rose from 57.3 to 57.5 points, which turned out to be better than the neutral forecasts. The number of approved applications for mortgages in November rose from 98.338 to 104.969 thousand, while market expectations assumed their decline to 82 thousand.


Today, during the Asian session, the AUD / USD pair is actively growing, testing the 0.7700 mark for a breakdown upward. The day before, the instrument was moderately declining in response to a number of technical factors and positive macroeconomic statistics from the USA. Thus, the PMI Markit index in the manufacturing sector in December rose from 56.5 to 57.1 points, which turned out to be better than the average market expectations. Australian data were worse than forecasted. The PMI index from Commonwealth Bank for December was adjusted from 56 to 55.7 points. Today’s Australian statistics also add negative to the market. Thus, the ANZ vacancy index for December fell from 13.5% to 9.2%, indicating negative trends in the labor market in the last month of 2020. On Tuesday, investors await the ISM manufacturing business statistics from the US and the speech of FRS representatives John Williams and Charles Evans.


Today during the Asian session, the USD / JPY pair is declining, consolidating near the strong support at 103.00. The day before, the instrument was falling, but returned to the green zone closer to the close of the daytime session in response to the publication of positive macroeconomic statistics from the US and the growth of correctional sentiment in favor of the dollar. In addition, the US currency was supported by a further increase in epidemiological risks, forcing the UK to introduce a third national quarantine, and France to add another two hours to the current curfew. Japan is also showing an alarming upward trend in morbidity, and authorities are considering an emergency regime, according to media reports.


Today, during the Asian session, gold prices are consolidating after a solid rise the day before, which allowed the instrument to renew record highs since November 9, 2020. The reason for such a significant growth on Monday was another weakening of the US currency in response to the expansion of support measures in the US. In addition, investors fear a worsening of the epidemiological situation in the world and are watching with alarm the surge in the incidence in the UK, where scientists have identified a new strain of coronavirus, which may be 70% more infectious.

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