- Democrats take control over US Senate
- Congress certifies Joe Biden as US president
- US Capitol riots
- DAX hits new high
European bourses finished today's session in green amid expectations of further fiscal stimulus as Democrats took control of US Senate and as the US Electoral College certified Joe Biden as the winner of the Presidential election. However investors in Europe remain concerned about spread of the coronavirus across the region. Coronavirus cases in Europe surpassed 25 million on Thursday, according to Reuters, with several countries reinstating or extending lockdowns as a resurgence in the pandemic threatens to overwhelm health services. Bank of England is expected to slash interest rates into negative territory around May as Britain's coronavirus crisis intensified. At the same time, ECB economic bulletin showed that Euro Area economic indicators pointed to a fourth-quarter economic contraction. DAX 30 rose 0.6% to a new all-time high of 13,968, CAC40 gained 0.7% and FTSE finished 0.2% higher.
US indices are trading at new all-time highs as prospects of further stimulus package after a victory of the Democrats in the Senate in Georgia lifted market sentiment. Meanwhile Senate Democratic Leader Chuck Schumer called for President Donald Trump’s removal Thursday a day after a mob spurred by the president overran the Capitol as lawmakers tallied President-elect Joe Biden’s presidential win. “What happened at the U.S. Capitol yesterday was an insurrection against the United States, incited by the president. This president should not hold office one day longer,” the New York Democrat said in a statement. Meanwhile the number of Americans filing for jobless benefits unexpectedly fell to 787k last week, while it still remains above pre-pandemic levels, a Labor Department report showed. Investors are now awaiting NFP report, which is expected on Friday.
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Create account Try a demo Download mobile app Download mobile appUS crude futures are trading 0.26% higher at $50.75 a barrel, while Brent contract rose 0.12% to $ 54.37. Elsewhere, gold futures fell 0.4% to $ 1,910.00 / oz, while silver is trading 1% lower near $ 27.00 / oz as higher US treasury yields pushed investors away from the precious metals. Bitcoin reached new all-time high at $ 39,500.
GOLD – price broke below $1920 level and is currently testing 50 SMA (green line) which coincides with major support at $1900. Should a break lower occur, downward move may accelerate. Next major support lies at $1858 and is additionally supported by 200 SMA (red line). Source: xStation5
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