The U.S. Dollar is weaker this morning, but you would be excused for not noticing as the move is less than 0.1% against most of its G-10 rivals.
Overview
Risk sentiment is in the green again today. European equities are advancing this morning and American shares look to restart their “Santa Clause rally” when markets open this morning. The S&P 500 clocked its 69th all-time close yesterday and will look for number 70 today.The positive sentiment comes amidst a “tidal wave” of coronavirus cases globally. New cases reached a daily high yesterday. Market participants are betting that the new wave will have less of a long-term economic impact. But in the meantime, reopening plans have been pushed back and hospitals around the globe are being pushed to the brink. Much like yesterday, there is no major economic data or Fed speakers on today’s docket. While liquidity remains thin, it is up from yesterday as much of the world came back online. It is customary that volumes remain low between Christmas and New Year which can account for a few jerky, outsized moves in some currency pairs.
What to Watch Today…
- No major economic events are scheduled for today
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