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2/12/2021 5:41:44 PM GMT | By Joel Frank
GBP/USD has surged back above the 1.3850 mark in recent trade, a strong recovery from earlier lows under 1.3780.
Vaccine optimism continues to fuel GBP outperformance versus its G10 currency peers.
GBP/USD has surged back above the 1.3850 mark in recent trade, a strong recovery from earlier European session lows under 1.3780, and the pair is now eyeing a test of weekly highs at 1.3866. Driving the upside in recent trade has been a broad decline in the US dollar, which prior to the start of US trading hours, had been the best performing currency on the day, but now sits in the middle of the G10 performance table.
2/2/2021 5:53:52 PM GMT | By Joel Frank
The S&P 500 has surged back to the north of the 3800 level, hitting highs around 3840.
Fiscal stimulus hopes, excellent vaccine news and strong earnings are all helping boost sentiment.
The S&P 500 has surged back to the north of the 3800 level, printing highs of the day above the 3840 mark. Bulls will have their sights firmly set on last Tuesday’s all-time high at just above 3870. The Dow Jones and Nasdaq 100 are seeing similarly excellent gains.
Sentiment is receiving a boost from the banging of the fiscal stimulus drum in Washington DC and excellent vaccine news. Jitters related to last week’s surge in retail investor demand for a number of small-cap stocks, which dealt serious damage to a number of hedge funds that had been short these names, proved short-lived; talk is that most of these shorts in these stocks have now been covered. Looking ahead, Amazon and Alphabet (Google’s parent co