Bloomberg reports that the ECB is pursuing a strategy of yield spread control

European Central Bank has a specific idea on the appropriate spreads says Bloomberg, citing an unnamed source. This is a bearish EUR development at the margin.

Australia - Westpac consumer confidence for January -4.5% m/m (prior +4.1%)

Index hits 107.0 from previous 112.0 All components of the index fell in January. A jump up in coronavirus cases and accompanying restrictive measures in various states has contributed to the lower result

Currencies off to an early Asia start against the dollar

A small bid tone coming in for major FX against the USD

UK PM Johnson said he looked forward to working closely with Joe Biden

Statement (ICYMI) from UK Prime Minister Boris Johnson: "I warmly congratulate Joe Biden on his historic inauguration as 46th President of the United States and look forward to working closely with his new administration as we defeat COVID and build back better from the pandemic."

ICYMI - Germany's Merkel says considering border closures

German Chancellor Angela Merkel spoke on Tuesday, Europe time, posting this ICYMI - warned Germany may need to consider border crossing restrictions if other European countries do not act to halt the spread of the coronavirus, Germany has already extended lockdown for another two weeks, now through to February 14. 

ForexLive Americas FX news wrap: Dollar unmoved by Yellen

Forex news for New York trade on January 19, 2021: Markets: - S&P 500 up 30 points to 3799 - Gold down $2.50 to $1836 - US 10-year yields flat at 1.087% There was a struggle to sustain any consistent direction in the FX market on a day that was light on economic news. Yellen's speech had been leaked before

Trade ideas thread - Wednesday 20 January 2021

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:         

Italy's government has survived another day

Prime Minister Conte won the vote of confidence in the Upper House ; 154-140.

US major broad indices close with solid gains

Dow rises modestly The US major broad indices closed solidly higher on the day. The gains were led by the Nasdaq index which rose by 1.53%. A look at the closing numbers shows:

Here is what’s on the economic calendar in Asia today - China monthly rate setting

China Loan Prime Rate monthly setting will be of note although rates are expected to be unchanged 0030 GMT Australia - Westpac Consumer Confidence Index for January 

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