Latest data released by Sentix – 8 February 2021
The current situation index fell from -26.5 in January to -27.5 while the expectations index declined from an all-time high of 33.5 in January to 31.5 in the latest reading.

Gold trades above $1,800 but the technical picture is still not convincing of any major rebound just yet
And as we start the new week, price is holding above that but overall price action remains unconvincing as the near-term bias stays more bearish for now.

Oil up nearly 20% year-to-date
Is there a more-overlooked asset than oil this year?
It’s been written-off for dead with investment fleeing the sector but oil inventories will be rapidly drawn down in the months ahead. OPEC+ will face increasingly tough decisions about what to do and the March decision could be the difference between $60 oil

AUD/CHF was the top trade
The Australian dollar led the way last week entirely due to a strong rally on Friday as it climbed 1% against the US dollar.
The commodity currencies struggled to gain traction for most of the week even with equities and commodities climbing. That finally flipped on Friday as they all made decent

Forex news for North American trading on February 5, 2021
It was unemployment day in the US and Canada, and both reports came in weaker than expectations:

NASDAQ index leads the way
The major US stock indices are ending a solid week with gains across the board.  Of the big 3 indices, the NASDAQ led the way. However, the Russell 2000 have the largest gains at 1.27%.  

Weekly forex futures positioning data from the CFTC for the week ending Tuesday, February 2, 2021
– EUR long 137K vs 163K long last week. Longs trimmed by 26K

US CPI Wednesday. Fed chair Powell speaks in New York
On Monday.
On Tuesday,
On Wednesday, 
On Thursday, 
On Friday,
the US treasury will auction off 10 year and 30 year bonds on Wednesday and Thursday

IMF Georgieva speaking

The Senate passes the final passage of the resolution
For some context, the resolution here would clear the path for Biden’s stimulus plan to pass if there is only a simple majority instead of going with the 60-vote threshold for most legislation to be passed in the chamber.