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Markets waiting for some direction from Washington

By MoneyWay | Jan 13, 2021

Markets are in a holding pattern while Washington is busy trying to impeach President Trump for a second time. Investors will have to wait until President-elect Biden officially takes over and puts his stamp on Washington which is one week from now.

The USDCAD stayed well within its recent range and will likely stay that way in the near term, oil prices are unchanged, so are gold , copper and silver, leaving the USDCAD nowhere to go.

Italy’s government has collapsed, again, Italy’s former Prime Minister Matteo Renzi on Wednesday announced his intention to pull his centrist party out of the ruling coalition, plunging the country back into political chaos as it battles a resurgence of the coronavirus. The latest political dispute is coming at a particularly painful moment, with the number of coronavirus infections and deaths in Italy currently among the highest in Europe. The new disagreement centers on EU funds and how they will relaunch the Italian economy after the pandemic.

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