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Old 04-01-2021, 21:51
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. January 04, 2021 Dollar falls against most currencies

At the beginning of the first trading week of the new year, the US dollar depreciates against many competing currencies. In a pair with the euro, the greenback fell again to the level of 1.2300. The US currency is under pressure from growing appetite for risky assets amid continued optimism about the global economic recovery in 2021.

The incidence of coronavirus in the world and the beginning of vaccination of the population in many countries remain the main topics of discussion by analysts. Bloomberg experts note that without widespread vaccine distribution, the dynamics of the foreign exchange market will strongly depend on the dynamics of the spread of Covid.

The economic calendar for today is not very diverse. Germany presented data on the index of business activity in the manufacturing sector: the indicator came out worse than expected (58.3 against expectations of 58.6 points). A similar release of data from the euro area also reflected a decrease in the indicator: from 55.5 to 55.2 points.

But the business activity index in the UK came out better than expected: the index rose to 57.5 (forecast 57.3 points). In the evening hours, the US will also release its business activity figures.
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