Attention Shifts Toward US Stimulus on Poor Job Data As COVID-19 Ease

Attention Shifts Toward US Stimulus on Poor Job Data As COVID-19 Ease

The dollar has been in an advantageous position as the strongest of the major currencies. But the disappointing non-farm payroll gave dollar bulls a reality check as the dollar ended mixed after a late sell-off. With a little light on the weekly data calendar, the focus will continue to be on stimulating the US economy, vaccine rollouts, and revenues.

The U.S. economy continues to make progress in the fight against COVID as daily cases have been declining for nearly a month and vaccination efforts are accelerating. A report on non-farm wages showed that the case for additional incentives remained strong. Meanwhile, the US CPI is expected to show moderate price pressures.

A reflationary deal will cause a spike in prices at some point, but that shouldn’t stop the Fed from dodging stimulus cuts.

The labor market is currently showing slight signs of improvement. The Labor Department reported the third consecutive decline in the weekly number of Americans seeking unemployment benefits. Recent reports contain a caveat for significant changes due to difficulties in adjusting historically high levels for seasonal factors.
U.S. COVID-19 Eases As Vaccine Rollout Increases
The United States as a whole has also seen a decline in the number of newly reported COVID-19 cases and hospitalizations in the past two weeks, following an alarming surge in infections at the end of the year. In parts of California, Texas, and other states, this wave has overwhelmed intensive care units, emergency rooms, emergency rooms, and morgues.

But with spring approaching, infections are now falling and the vaccination program seems to have solved some of its original problems.

However, an improved outlook recently emerged as the country crossed the ominous milestone of 25 million known infections, with nearly 419,000 Americans killed in the pandemic. Scientists have warned that another wave of infection could be looming on the horizon with the emergence of several variants of the coronavirus, which, as it turned out, are more infectious than the original.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.