The U.S. dollar held its recent gains on Tuesday after a spike in U.S. Treasury yields lifted demand for the U.S. currency. The dollar has been one of the biggest losers in the past 10 months as ultra-dovish policy from the Federal Reserve encouraged investors to dump the currency for alternative currencies. It hit more .
S&P 500 May Slide Lower on Fed Taper Talk Ahead of Inflation Release 2021-01-12 07:30:00 Daniel Moss, Analyst
S&P 500 Index, Federal Reserve, Tapering Bond Purchases, Quantitative Easing – Talking Points:
Equity markets crept higher during APAC trade as investors warmed to the idea of additional fiscal stimulus out of the US.
The suggestion by some members of the Federal Reserve that the central bank should look to taper its QE program could weigh on US benchmark indices.
S&P 500 index at risk of a near-term pullback after forming a bearish Hanging Man candle just shy of key resistance.
Asia-Pacific Recap
Tuesday, 1/12/2021 14:54
GOLD PRICES fell back again in London trade Tuesday, retreating $20 from a rally to $1863 per ounce before steadying as Western stock markets fell once more against a backdrop of worsening Covid infection and death rates, supply-chain issues with mass vaccinations, but also a rise in longer-term interest rates in the bond market ahead of the trillions in new borrowing due from incoming US President Joe Biden s spending plans. Crude oil rose to new 10-month highs above $56 per barrel of European benchmark Brent and copper neared last week s 7-year highs at the London Metal Exchange. Following last Wednesday s violent attack on the US Congress by a mob backing Donald Trump,
US Economic Outlook: Recovery Tied Directly To Success Of COVID Vaccination Program
01/12/21 AT 9:41 AM The New York Stock Exchange will delist three Chinese telecom equities, reverting to its initial position after reversing itself two days ago Photo: AFP / Angela Weiss
KEY POINTS
Fed officials see sharp bounce provided vaccinations go smoothly
Industries that were decimated by the pandemic will take longer to recover
Economists suggested vaccinations against COVID-19 would facilitate a broad-based recovery, but they differed over the general pace of an eventual rebound as some questioned how long the ramifications of the pandemic would last.
The Federal Reserve Bank of Atlanta revised its snapshot estimate for the fourth quarter, projecting gross domestic product would increase by 8.7%, up from its previous estimate of 8.5% from Jan. 7.