{"id":293504,"date":"2021-01-21T00:07:20","date_gmt":"2021-01-20T13:07:20","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-thursday-21-january-2021\/"},"modified":"2021-02-19T12:12:58","modified_gmt":"2021-02-19T01:12:58","slug":"overnight-on-wall-street-thursday-21-january-2021","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-thursday-21-january-2021\/","title":{"rendered":"Overnight on Wall Street: Thursday 21 January 2021"},"content":{"rendered":"

By Lachlan Meakin<\/strong><\/p>\n

Equity markets<\/strong><\/h4>\n

US markets pushed decidedly higher last night with the S&P 500 (US500) hitting record highs on the optimism that federal spending will revive growth and support corporate earnings with the new Biden administration inaugurated.<\/span><\/p>\n

The NASDAQ 100 (NDX100) jumped more than 2% as Netflix (NFLX.NAS) surged after reporting solid earnings and a jump in subscribers.<\/span><\/p>\n

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Source: Google Finance<\/p>\n

Following this lead futures in Hong Kong (HK50), Japan(JP225) and Australia<\/span> (ASX200) are pointing to a higher opening for markets in the Asian session.<\/span><\/p>\n

Currency markets\u00a0<\/b><\/h4>\n

US Dollar weakness continued with all major currencies performing well against the greenback with the exception of the Euro (EURUSD).<\/span><\/p>\n

EURUSD headed lower ahead of tonight\u2019s ECB monetary policy statement with traders expecting more QE in line with December’s \u20ac500bn extension to its pandemic-inspired quantitative easing programme.<\/span><\/p>\n

Of the other major currencies the Canadian Dollar (USDCAD) was the best performer rising to a two-year high after the Bank of Canada predicted a strong second half rebound.<\/span><\/p>\n

\"\"<\/p>\n

Source: GO MT4<\/p>\n

The Aussie Dollar (AUDUSD) will be the currency to watch during the local session with the monthly employment change and unemployment rate released at 11:30am AEST.<\/span><\/p>\n

\"\"Gold<\/strong><\/h4>\n

Spot gold (XAUUSD) again rallied suggesting gold has now entered a bullish phase after bouncing decisively off the recent lows.<\/span><\/p>\n

Gold moved up $31 an ounce or around 1.7% during the session with US Dollar weakness and the indication from the new US administration that more stimulus is coming creating a strong tailwind for the gold price going forward.<\/span><\/p>\n

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\nSource: GO MT4<\/p>\n

Bitcoin<\/b><\/h4>\n

Bitcoin (BTCUSD) again consolidated and is trading in an ever-tightening range, finishing down for the session despite US Dollar weakness. With Bitcoin\u2019s ascent quickly giving way to profit-taking momentum has stalled with $40,000 seen as a key level by JPMorgan strategists who believe investors will likely continue to exit their bitcoin positions unless it can retake that critical support level.<\/span><\/p>\n

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\nSource: GO MT4<\/p>\n

By Lachlan Meakin<\/strong><\/p>\n

Key upcoming events<\/strong><\/h4>\n