Markets in hopes of betterments in health and financial situations under new U.S. administration have now been looking for a strong dollar. And that is already making grounds as, on Monday, the turnaround in the dollar index accelerated, rising 0.45% to 90.52 points. The single European currency lost ground against the U.S. currency gave up -0.53% to $1.2154.
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The 10-year T-Bond yield rose another 3 basis points on Monday to 1.14 percent, the highest since March 2020, up from 0.9 percent a week earlier, backed by the Biden administration’s expectations for fiscal stimulus.
Investors are now centered on the evolution of the health crisis and the much-anticipated new assistance package for the Biden administration. The president-elect announced Friday that his economic agenda would be unveiled on Thursday, pledging “thousands of billions” in aid. The press referred to a new $3,000 billion ‘kit’ which, from March 2020, will double the amount currently injected by the federal government in multiple phases to boost the economy.
In specific, Joe Biden shared his support for the payment, to resolve the ongoing situation, of a new assistance check of $1,400 per American.
The vaccine campaign in Europe and the United States continues on the health front, a race against time as the number of cases continues to increase, particularly as the latest British version of Covid-19 is published. The number of deaths globally has reached 1.92 million, with more than 372,000 in the United States, the nation that suffered the worst from the pandemic. The number of reported cases of Covid-19 has now surpassed 22 million across the U.S., with a record 300,000 per day reached last Friday. The number of new daily cases averaged 254,866 over seven slick days, and the number of casualties topped 3,100 a day, peaking last Thursday at over 4,000.
Since the start of the vaccination campaign, 6.7 million Americans have received at least one injection (of the two needed to be highly immunized) and 22 million doses have been put on the market, lower than initially forecast.
