Forex Signals Brief for Jan 22: The Greenback Declines - Forex News by FX Leaders
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Forex Signals Brief for Jan 22: The Greenback Declines

Posted Friday, January 22, 2021 by
Rowan Crosby • 2 min read

US Wrap

US markets were relatively flat yesterday after all the dust settles around Washington DC for now.

The NASDAQ continues to lead the charge higher, while both the SPX and Dow were largely unchanged. Interestingly, the Greenback is continuing to drift lower, while GOLD is holding its recent break higher for the time being.

Interestingly, we heard that the Pentagon is not taking orders from the Biden regime at this point. We can still see that there is a large military presence in Washington that as yet has not left.

The Data Agenda

We have quite a bit of data today to round out the trading week.

Early on we have retail sales from the UK which is expected to show, a 1.2% rebound in December. We then turn our focus to Germany, with the release of German Manufacturing PMI, while the UK will also release their PMI data.

In the US session, we have core retail sales, out of Canada, however, it is the November data. While we get existing home sales and crude oil inventories from the US.

 

Forex Signal Update

The FX Leaders Team didn’t close any green signals yesterday as most of our trade are still active.

 

USD/CHF – Active Signal

The USD/CHF has been trending lower, however, there is a little bit of support here. We are looking at a quick long opportunity.

 

AUD/USD – Active Signal

The AUD/USD has been pushing higher and we are long looking for move towards the upper side of this channel.

 

Cryptocurrency Update

BTC has been tumbling over the last 24 hours and has recently just tested the $30,000 level before rebounding.

Yesterday we heard lawmakers are looking to curtail cryptocurrency because they are used for terror financing.

Like I said at the time, this is the rhetoric they use when they want to stop something in their tracks. That is certainly bearish sentiment, but there is hope on the horizon.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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