{"id":293503,"date":"2021-01-20T00:18:23","date_gmt":"2021-01-19T13:18:23","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-wednesday-20-january-2021\/"},"modified":"2021-02-19T12:12:58","modified_gmt":"2021-02-19T01:12:58","slug":"overnight-on-wall-street-wednesday-20-january-2021","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-wednesday-20-january-2021\/","title":{"rendered":"Overnight on Wall Street: Wednesday 20 January 2021"},"content":{"rendered":"<p><strong>By Lachlan Meakin<\/strong><\/p>\n<h4><strong>Equity markets<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">US equity markets rallied Tuesday as traders returned from the long weekend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tech stocks outperformed with the Nasdaq (NDX100) up more than 1.5% on the back of signs of mounting support for significant fiscal stimulus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reporting earnings tonight will be Procter &amp; Gamble (PG.NYSE) and Morgan Stanley (MS.NYSE)<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270357\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/Picture1_200121.png\" alt=\"\" width=\"601\" height=\"426\" \/><br \/>\nSource: Yahoo Finance<\/p>\n<p><span style=\"font-weight: 400;\">On the back of this the Aussie equity market has opened strongly currently the ASX 200 is up 0.6%<\/span><\/p>\n<h4><b>Currency markets\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">US dollar weakness returned overnight with comments from incoming Treasury Secretary Janet Yellen during her confirmation overnight.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yellen advocated for major fiscal action to help support the virus-stricken economy, and told Congress to \u201cact big\u201d when it came to more aid. This alongside the Federal Reserve\u2019s<\/span> <span style=\"font-weight: 400;\">commitment to keeping monetary policy easy<\/span><span style=\"font-weight: 400;\"> is creating a headwind for any US dollar strength<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270342\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/Picture2_200121.png\" alt=\"\" width=\"602\" height=\"345\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Overnight there are scheduled releases from both the Bank of England and Bank of Canada which could cause volatility in GBP and CAD crosses.<\/span><\/p>\n<h4><strong>Oil<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">The weaker US dollar, as well as expectations that the large stimulus package incoming US Treasury Secretary Janet Yellen hinted at will support economic growth in the world\u2019s largest economy pushed oil prices over 1%\u00a0 higher on Tuesday.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270327\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/Picture3_200121.png\" alt=\"\" width=\"356\" height=\"367\" \/><br \/>\nSource: oilprice.com<\/p>\n<h4><img loading=\"lazy\" class=\"alignnone size-full wp-image-257817\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/09\/gold_100920.jpg\" alt=\"\" width=\"700\" height=\"520\" \/><strong>Gold<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Also helped by US Dollar weakness Gold prices continued their bounce of recent support levels.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270312\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/Picture4_200121.png\" alt=\"\" width=\"601\" height=\"411\" \/><br \/>\nSource: GO MT4<\/p>\n<h4><b>Bitcoin<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin had a relatively quiet night with the smallest daily range it has had so far this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It continues to consolidate in a tight wedge pattern, which technically could predict a sharp movement in either direction once the wedge is breached.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270297\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/Picture5_200121.png\" alt=\"\" width=\"601\" height=\"463\" \/><br \/>\nSource: GO MT4<\/p>\n<p><strong>By Lachlan Meakin<\/strong><\/p>\n<h4><strong>Key upcoming events<\/strong><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank of Canada rate statement (USDCAD)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Australian Employment change and unemployment rate (AUDUSD, ASX200), <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank of Japan Monetary policy statement (USDJPY, JP225)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ECB Monetary policy statement and press conference (EURUSD. Euro Indices)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank of England Governor Bailey speaks (GBPUSD, UK100)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New Zealand CPI q\/q (NZDUSD)<\/span><\/li>\n<\/ul>\n<table style=\"height: 171px;\" border=\"1\">\n<tbody>\n<tr style=\"height: 75px;\">\n<td style=\"text-align: center; width: 728px; height: 75px;\" colspan=\"7\"><strong>Thursday, 21 January 2021<\/strong><strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><strong><br \/>\n<\/strong>Indicative Index Dividends<br \/>\n<em><sup>Dividends are in Points<\/sup><\/em><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ASX200<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>WS30<\/strong><\/td>\n<td style=\"width: 103px; height: 10px;\" width=\"100\"><strong>US500<\/strong><\/td>\n<td style=\"width: 101px; height: 10px;\" width=\"100\"><strong>US2000<\/strong><\/td>\n<td style=\"width: 108px; height: 10px;\" width=\"100\"><strong>NDX100<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>CAC40<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>STOXX50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">5.202<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.316<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.026<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ESP35<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ITA40<\/strong><\/td>\n<td style=\"width: 103px; height: 10px;\" width=\"100\"><strong>FTSE100<\/strong><\/td>\n<td style=\"width: 101px; height: 10px;\" width=\"100\"><strong>DAX30<\/strong><\/td>\n<td style=\"width: 108px; height: 10px;\" width=\"100\"><strong>HK50<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>JP225<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>INDIA50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">1.007<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img loading=\"lazy\" class=\"alignnone\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" alt=\"\" width=\"942\" height=\"122\" \/><\/a><\/p>\n<p style=\"font-weight: 400;\"><em>Disclaimer: The articles are from GO Markets analysts, \u00a0based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; \u00a0should not be taken as either representative of or shared by GO Markets. \u00a0Advice (if any), \u00a0are of a \u2018general\u2019 nature and not based on your personal objectives, financial situation or needs.\u00a0 You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice. \u00a0If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lachlan Meakin Equity markets US equity markets rallied Tuesday as traders returned from the long weekend. Tech stocks outperformed with the Nasdaq (NDX100) up more than 1.5% on the back of signs of mounting support for significant fiscal stimulus. Reporting earnings tonight will be Procter &amp; Gamble (PG.NYSE) and Morgan Stanley (MS.NYSE) Source: Yahoo [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[129],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Overnight on Wall Street: Wednesday 20 January 2021 - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-wednesday-20-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overnight on Wall Street: Wednesday 20 January 2021 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Lachlan Meakin Equity markets US equity markets rallied Tuesday as traders returned from the long weekend. 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