MARKET HEADLINES:
Major Catalyst: Stimulus Optimism Higher, Trump Removal.
Commodity: Gold Down, But Boosted By Hopes for FurtherU.S. Stimulus.
Oil: Oil near 11-Month Highs on Saudi Output Cut Pledge.
Forex: Dollar Up, Holds on Biggest Gains in Over Two Years.
Global Market: Asian Stocks Hit Fresh Records on Hopes forGlobal Recovery.
Industry Catalyst: U.S. Suspends French Tariffs over DigitalServices Tax.
CATALYST FOR CURRENCY
The dollar was up on Friday morning in Asia, holding onto the biggest gains in over two months as a rise in U.S. Treasury yields led to some unwinding of bearish bets on the U.S. currency. The market avoided big move as investors finish the week.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged up 0.14% to 89.907. The dollar rose above the almost thee-year low of 89.206 seen on Wednesday, as investors took profits against the euro particularly. The index slid almost 7% in 2020, and as much as 0.9% in 2021 to date, over expectations of U.S. stimulus measures. The AUD/USD pair edged down 0.19% to 0.7753, with Australia’s third-largest city of Brisbane entering a three day lockdown from later in the day.
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