Today the focus is on possible tech regulations in EU countries, COVID in the UK, and potential impeachment in the US.
Calendar
15:00 UTC
The US JOLTs Job Openings report for November will be released. A decrease in job openings relative to the previous month’s amount could negatively impact the USD.
Assets to trade: EUR/USD, USD/CAD
News
The House discussed impeachment and removal of the US President. Affects
USD
The EU looks to crackdown on social media and tech giants in the wake of last week’s terrorist attack on Washington DC. Affects Facebook
Bitcoin broke records last week but saw large sell-offs on Monday. Affects Bitcoin
Seven months of job growth ended in the US when 140,000 jobs were lost in December. Affects USD
The UK faces the worst week of COVID-19 to date. Affects GPB
Technical Analysis
USD/CAD
Last Wednesday, the US capitol saw rioter interrupted the counting of electoral college votes to certify President-Elect Biden as the next President. Trump’s involvement in the protest has led the House to discuss his removal from office before the inauguration on the 20th. The turmoil around US leadership could harm the USD.
The pair had found new highs last week before seeing a sharp decline Monday morning, indicating a likely return to the previous downtrend.
Bitcoin
After seeing huge gains, holders began to sell, creating a new resistance level around 41,000, triggering higher trade volume.
Gold
The precious metal has shown a Three Black Crows pattern signaling a downtrend. Quotes could fall as low as the support level.
