Here is what you need to know on Monday, January 13:
The mood in financial markets is upbeat as Chinese Vice Premier Liu He leads a delegation to Washington. He is set to sign Phase One of the trade deal and investors are already eyeing the second phase. Markets are awaiting the details of the accord. Steven Mnuchin, the US Treasury Secretary, has suggested reviving the Bush-era strategic talks with Beijing. Commodity currencies are on the rise and the yen remains under pressure.
The British pound is under pressure after Gertjan Vlieghe, a member of the Bank of England, opened the door to cutting interest rates – data-dependent. His comments join dovish remarks from Governor Mark Carney and keep the pressure on sterling.
UK monthly Gross Domestic Product data for November is set to show a second consecutive month of stagnation.
The greenback remains under pressure after unimpressive jobs report for December. The world's largest economy gained only 145,000 jobs and wage growth decelerated to 2.9%. Later this week, inflation, retail sales, and consumer confidence are awaited. See US Job creation slows in 2019 on manufacturing decline and trade
Iran: Protests have rocked the Middle-Eastern nation after the leadership admitted to shooting down the Ukranian passenger plane that crashed last week. Iranian-backed Iraqi militias have vowed to take revenge after the killing of some of their leaders. Tensions remain elevated and oil prices may react to the news.
The Canadian dollar is holding onto gains after a better-than-expected jobs report. The Bank of Canada is scheduled to release its quarterly Business Outlook Survey later today.
Cryptocurrencies have been looking for a new direction with Bitcoin hovering above $8,000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.