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A new, more contagious covid strain spurred risk aversion at the weekly opening.
US Senators agreed on a historic $900 billion coronavirus relief package.
EUR/USD has bounced from back above 1.2200, the risk is skewed to the upside.
The week started in risk-off mode amid concerns about a new coronavirus strain that surged in the UK, which led to an emergency meeting of EU’s authorities. The greenback rallied throughout the first half of the day, with the negative risk-related sentiment cooling down around Wall Street’s opening. The new covid strain seems to be much more contagious, although reports so far indicate that it’s no more deadly. Even further, the European Medicines Agency said that there’s no evidence that the just developed vaccines won’t work with the new variant.
What Happened: Despite a volatile week, U.S. index futures managed to establish new all-time highs.
Remember This: “In the longer term, the good news is that vaccines are now rolling out increasingly quickly,” said Brad McMillan, chief investment officer at Commonwealth Financial Network. “Despite the headlines we are seeing today and the real risks, we are making progress. We will get there but it will just take a bit longer.”
Pictured: Profile overlays on a 65-minute candlestick chart of the Micro E-mini S&P 500 Futures
Technical
Amid last Friday’s selling, responsive buyers surfaced at $3,680.00, a low-volume area that denotes directional conviction.
EUR/USD Exchange Rate Sinks as Europe Faces Christmas Lockdowns
The Euro to US Dollar (EUR/USD) exchange rate fell by -0.3% today, with the pairing currently trading around $1.22.
The Euro (EUR) struggled today following the release of the flash Eurozone Consumer Confidence data, which fell by -13.9.
As a result, EUR traders are becoming concerned for the Eurozone’s economy as several key economies in the bloc – included the largest, Germany – have re-entered national lockdowns.
Meanwhile, the DIW institute has predicted that the Germany economy could shrink by -1% in the fourth quarter, topping the first quarter’s downturn.
12/21/2020 12:30:43 PM GMT | By Eren Sengezer
NZD/USD is falling for the second straight trading day.
USD s market valuation drives NZD/USD s movements on Monday.
Slumping US stock futures suggest safe-haven flows will dominate the American session.
After advancing to fresh a fresh multi-year high of 0.7172 last Thursday, the NZD/USD pair made a technical correction and close in the negative territory on Friday. With the market mood turning sour on Monday, the pair came under strong bearish pressure and slumped to its lowest level since November 27 at 0.7003. Ahead of the American session, however, NZD/USD started to consolidate its daily losses and was last seen losing 1.25% on the day at 0.7035.
A Peek Into The Markets: US Stock Futures Tumble Despite Lawmakers Striking Stimulus Deal benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.