Here is what you need to know on Thursday, January 14: Reports that Biden’s is set to announce a $2 trillion package have been boosting markets and weighing on gold. Investors are shrugging off Trump’s second impeachment and eyeing a speech from Jerome Powell, jobless claims, and coronavirus headlines. President-elect Joe Biden is set to introduce an aid package worth around $2 trillion, a significant top-up to the recent $900 billion relief approved by Congress. Stocks are on the rise in anticipation of a stronger economy and US bonds are sold off. The increase in yields is relatively moderate and the greenback is stable. Gold has dropped sharply in response to rising yields, falling to new weekly lows at $1,827. President Donald Trump was impeached for the second time in his term amid his role in the Capitol riots. Ten House Republicans voted with Democrats, but the Senate is unlikely to hold a trial before January 20, allowing Trump to conclude his term. Markets are focused on Biden’s plans rather than the political drama. Jerome Powell, Chairman of the Federal Reserve, speaks later in the day and will likely convey a message of stability regarding the Fed’s bond-buying scheme. His colleagues have been talking about the possibility of tapering the scheme, somewhat boosting the dollar. US initial jobless claims are set to stabilize below the 800,000 level as the US economy continues struggling with covid. See US Initial Jobless Claims Preview: Will filings indicate more layoffs? Vaccine: Johnson and Johnson said that its one-shot immunization scheme is 90% efficient some 29 after the injection. The pharmaceutical giant’s encouraging results are offset by manufacturing delays but may deploy later in the quarter. AstraZeneca said its two doses can be administered with a gap of 8-12 weeks. Europe: Germany reported another daily death record and the end to the lockdown is out of sight. The European Central Bank releases its meeting minutes on Thursday, and it may repeat President Christine Lagarde’s message that uncertainty has receded. UK: Prime Minister Boris Johnson is under growing pressure to tighten restrictions once again as pressure on hospitals intensifies. Covid mortalities hit a record on Wednesday, but infections show tentative signs of falling. GBP/USD remains buoyed by Britain’s accelerated vaccination campaign and by hawkish words from the Bank of England early in the week. Chinese exports have increased in December, showing the strength of the world’s second-largest economy. A World Trade Organization delegation has arrived in Wuhan to investigate the origins of COVID-19. US-China Relations and the Biden Administration: Trade war over but you can’t go home again Cryptocurrencies have resumed their gains after consolidating on lower ground. Bitcoin is trading above $37,000, Ethereum above $1,100 and XRP around $0.30. Five factors moving the US dollar in 2021 and not necessarily to the downside FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD still targets the 1.3760 level – UOB FX Street 11 months Here is what you need to know on Thursday, January 14: Reports that Biden's is set to announce a $2 trillion package have been boosting markets and weighing on gold. Investors are shrugging off Trump's second impeachment and eyeing a speech from Jerome Powell, jobless claims, and coronavirus headlines. President-elect Joe Biden is set to introduce an aid package worth around $2 trillion, a significant top-up to the recent $900 billion relief approved by Congress. Stocks are on the rise in anticipation of a stronger economy and US bonds are sold off. The increase in yields is relatively moderate and the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.