Weekly Market Review 22 Jan 2021 | United States Politics, Economic Statistics and COVID-19 Vaccines.

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Weekly Market Review 22 Jan 2021 | United States Politics, Economic Statistics and COVID-19 Vaccines. - tradeglobalmarket

In the weekly market review segment, we discuss about the latest happening in the European, Asian and American market. This recent week was a historical week in the United States politics. Also, we have monitored over 30+ statistics, so it was a relatively busy week on the economic calendar.

 

US Market Review

The fingers of economic data from the various financial authorities and consumer indexes were optimistic and encouraging. A decent stimulus package from the president of United States acted as a catalyst to drive support for heavy assets. Large-cap S&P 500 index rose to approximately 2%. NASDAQ gained almost 4.2%. The DOW just added 0.6%.

The number of jobless claims fell slightly. The stimulus package in response to the COVID-19 pushed the dollar into the red zone for the week. The manufacturing Purchasing Managers' Index (PMI) also rose from 57.1 to 59.1.

 

European Union Market Review

Economic sentiment figures of major European market like Germany and France were in focus this week, other markets were quite on the economic data front. It was a relatively quiet week for major European indexes as well. The CAC40 fell by 0.93%. The DAX30 rose by 0.63% while the EuroStoxx600 rose by 0.18%.

The impact of extended lockdown measures on EURO was muted. EURO rose by 0.74% this week. Multiple manufacturing sectors of France picked up the speed this week.

 

UK Market Review

The manufacturing Purchasing Managers' Index (PMI) fell sharply from 57.5 to 53. Also, the services Purchasing Managers' Index (PMI) fell from 49.5 to 39. December inflation figures were particularly in focus this week. The Producer Price Input Index rose by 0.80% in December. This added support to the pound. In the week, the Pound rose by 0.7%.

 

Japanese Market Review

The Japanese product exports rose by 2%. Particularly, exports to China rose by 2.5%. Private sector Purchasing Managers' Index (PMI) and inflation figures were negative. There were no decisions made by Bank of Japan on the monetary policy front. The service sector and manufacturing sector activity declined slightly. However, the impact of all these economic events were muted by Japanese yen.

 

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