Investors have mostly looked past the violence in Washington as they concentrate on the prospect for more economic stimulus and the likelihood that calm will prevail as Joe Biden takes the presidency.
The U.S. dollar steadied after accelerating against its major peers Thursday.
Today, all eyes will turn to the release of the nonfarm payrolls report at 13:30 UTC. The U.S. jobs report is forecast to show a sharp slowdown in hiring. While a softer release is normally dollar-negative, the impact now depends on the overall positive prevailing mood in the market since market participants have looked past weak data throughout last year.
The DAX surpassed the 14000 mark and more gains could be in play. A next target is 14250 but bear in mind that the market is never straight-lined, which is why the index could first test the 14000-level as a new support before we see another leg up.
We wish you good trades and a peaceful weekend!
- Subscribe to our daily signal service
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2021 MaiMarFX.
Follow us on social media: