There is no earthly reason to buy dollars with Trump exiting unless we imagine he is going to slash and burn on his way out the door. And that’s exactly what he is going to do, but the underlying system is relatively safe if only because we can see the end—inauguration day on Jan 20. A flurry of risk-off without rhyme nor reason just has to be accepted but we can’t let ourselves become agitated over it and see risk-off under every rock—or accept risk-off that has no known cause. Stay the course, but be aware traders are willing to be spooked.
Latest News: Stocks
EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points.
GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown.
A winner has yet to be declared in the 2020 Elections, which have turned into a nail-biter. Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss the results, the reaction in financial markets, and discuss what's next. High volatility is set to prevail.
Cardano had a significant rally towards $0.355 at the beginning of 2021. After a notable dip to $0.228, bulls bought it and managed to push Cardano price to $0.33 again before a small rejection.
Ethereum bulls bought the dip on January 11, pushing the digital asset from a low of $915 towards $1,256. The smart-contracts giant has been outperforming Bitcoin in the past 24 hours despite the negativity seen on social media.
XLM price trades at $0.291 at the time of writing after a healthy consolidation after hitting a 2021-top at $0.411. There is a high chance that XLM is about to see a massive breakout or breakdown within the next 24 hours.