U.S. stock futures advanced on Monday although trading volume was light owing to the Martin Luther King Jr. Day holiday.
Tuesday’s will see Bank of America and Netflix report quarterly results.
On Monday China reported a better-than-forecast Q4 GDP figure at 6.5% YoY, making China the only major economy to record positive economic growth in 2020.Chinese Shanghai Composite stock index rallied 0.84% on Monday and Hong Kong’s Hang Seng Index (HSI) gained 1.01%.
Of note the risk-sensitive Australian Dollar, which usually rises on strong Chinese data declined versus its US counterpart. AUD/USD is almost 2% lower from its multi-year highs reached earlier in January.as the recent stronger tone surrounding the US Dollar weighed heavily on the cross.
Foreign direct investment data from China will be in focus. Hong Kong unemployment data may also attract market attention in Tuesday’s session.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
