Three markets to watch next week (08.01.2020)

Beginning of 2021 has brought continuation of gains on the equity markets and solid bounce on the commodity market. Cryptocurrencies continued to rally with Bitcoin crossing the $40,000 mark last week. Some top tier macro data will be released next week but will it have any impact on investors' buy-all attitude?

EURUSD

US dollar index continues to trade at multi-year lows while EURUSD has climbed to the highest level since the beginning of 2018. The main currency pair will get a few chances to move next week with ECB minutes release scheduled for Thursday, 12:30 pm GMT and US retail sales reading for December expected on Friday, 1:30 pm GMT. Apart from that, a number of Fed members will deliver speeches, including Chairman Powell (5:30 pm GMT). However, will this be enough to halt depreciation of the greenback?

DE30

Global stock markets rallied this week after results of Georgia run-off races showed that 'Blue Wave' is coming. Expectations of a massive fiscal stimulus under Democrat lead has pushed indices in the United States and Europe to fresh all-time highs. German GDP data for Q4 and full-2020 will be released on Thursday. However, will markets care when a multi-trillion stimulus package may be coming in the United States soon? Even an unprecedented siege on the US Capitol Hill last week barely saw indices react.

BITCOIN

While equities and commodities post solid gains at the beginning of 2021, they look minor compared to craze on the cryptocurrency market! Bitcoin more than doubled in less than a month and crossed the $40,000 mark for the first time in history. Timing and magnitude of gains resembles the situation from the turn of 2017 and 2018. Situation looks different as markets are much more familiar with digital assets this time and cryptos are being more and more often used by businesses. However, will a crash follow this time as well?