As the first trading week of 2021 comes to a close, it’s worth taking a look at the trends that
have carried on from the previous year, and any emerging ones. Sure, it’s a new year, but is
it all that different to the world of Forex? In this article, we’ll take a look at the most significant
events that have kicked off this decade with a bang.
Old habits die hard
A transition to a new presidency has many traders speculating on how the US Dollar will
perform in 2021. But before we get ahead of ourselves, Donald Trump has made sure to
make his departure from office one to remember, as supporters attempted to protest Biden’s
win by taking over Capitol Hill during the first week of January. However, the greenback was
boosted by other news, as investors’ demand for a safe haven increased.
As Joe Biden prepares to take his seat in the White House, hopes of setting out new Climate
goals have resurfaced. This could mark the start of a big change in America’s action on the
climate crisis, opening up new opportunities for green business and environmental initiatives
to gain strength.
Did you know that eco-friendly broker CedarFX plants trees for every trade? Sign up to an
Eco Account and get started today!
After the turbulent year that was 2020, have traders become immunized against the fear of
volatility or will Covid concerns challenge the Forex markets? In the United Kingdom, strict
lockdown measures have been put in place for the start of the year, meaning the whole
nation can only leave the house with a valid reason, such as to exercise or seek medical
help. Having just exited the EU, the nation’s currency has been experiencing choppy waters
at the start of the year. Further instability could affect the GBP significantly, so traders will be
paying attention to what’s next in Forex.
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