Forex Today: Panic paused, concerns persist


Here is what you need to know on Tuesday, January 7th:

  • The risk-off mood eased throughout the date, amid no new threats between the US and Iran and upbeat data.
  • Markit released the final December Composite PMI for most major economies, all of them revised higher from preliminary estimates, further helping the mood to improve.
  • News ahead of the US close showed that some GOP senators want to change the Senate’s rules and allow for lawmakers to dismiss articles of impeachment against President Trump before the House sends them over, according to The Hill.
  • UK PM Johnson announced that the UK would conduct post-Brexit trade talks with the US while it negotiates the terms of the future relationship with the EU.
  • Safe-haven assets were again the best performers, with gold soaring to a fresh six-year high of $1,588. They hold on to intraday gains despite giving back some ground during US trading hours.
  • US indexes trimmed most of their intraday losses after risk-off was offset by upbeat US data.
  • Crypto Today: Bitcoin bulls tackling big $7500 barrier

 

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