Weekly Market Analysis: January 11 - 15, 2021

Weekly market analysis 11 - 15 January 2021 will discuss things that can affect the market such as, the US Dollar in trading on Monday early this week in the Asian session continued to strengthen against several other major currencies. The strengthening of the Greenback was due to a fairly large increase in the yield on US bonds for a tenor of 10 years. Meanwhile, regarding the plan of the elected US President Joe Biden for more US stimulus measures that will weaken the US Dollar. Joe Biden has promised "trillions" for the Covid-19 relief package stimulus during his campaign and the Senate seat won by the Democratic Party, and the handover of office will take place on January 20, 2021. Gold fell after touching its highest level at US $ 1959 / troyounce. The fall in Gold was the impact of the increase in the yield on US bonds for a tenor of 10 years. This fall in Gold ignored the release of negative US employment and unemployment data, which should have caused Gold to jump sharply, but instead moved the opposite. Followed by expectations of a worsening level of the US economy after the release of the negative NFP data. Oil prices fell on Monday (January 11, 2021) due to weakening global demand. This weak demand was due to the significant increase in Corona virus cases in China last weekend. Chinese national authorities said that infections in Hebei Province had increased sharply and even recorded the largest daily increase in the past 5 months. "Corona cases have re-emerged in China, with 11 million people affected by the lockdown in Hebei Province. In addition to the conditions in China, other factors that caused oil prices to decline were: uncertainty regarding the Fed's policy which caused investors to take profit-taking actions (on Longterm positions in oil). Hebei Province is currently a red zone for Covid-19 in China, and the city of Shijiazhuang is the center of the outbreak. This situation forced relevant officials to re-impose isolation and prohibit residents from leaving the city to prevent the spread of the Corona virus.

1. Important Data/High Impact on Weekly Market Analysis 11 - 15 January 2021

1.1 The Fed chair Powell speak (USD)

Thursday, 00:30 WIB. Powell as the chairman of the American central bank, who served from February 2018 - February 2022. His duties include controlling short-term interest rates. In addition, he also has a greater influence on the strengthening or weakening of the value of the American currency than anyone else. Investors are eagerly awaiting the central bank's statement which is useful for providing subtle clues about future monetary policy.

1.2 Core Retail Sales & Retail Sales (USD)

Friday, 20:30 WIB. The definition of Core Retail Sales is: data that records changes in the total value of sales at the retail level, excluding cars. Although car sales account for about 20% of Retail Sales, they tend to be very volatile and distort the underlying trend. Therefore, core data is considered a better measure of spending trends. While Retail Sales data is: data that records changes in the total value of all sales at the retail level. This is the overall baseline data for important consumer spending data. This data is also an important benchmark for consumer spending levels, which account for a large portion of a country's overall economic activity.

2. Technical Review According to Weekly Market Analysis 11 - 15 January 2021

2.1 EUR/USD

2.2 USDCHF

2.3 GBPUSD

2.4 USDJPY

2.5 Gold

2.6 AUDUSD

2.7 Oil

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