Bitcoin (BTC) hits a new all-time high of $34000 over the weekend. The cryptocurrency rose more than 300% in 2020 and rallied by 50% in December alone. Bitcoin has more than tripled its value since 2020.
Global stocks jumped higher on the first trading day of the year. Meanwhile, several Chinese stocks dropped on Monday after the New York Stock Exchange's announcement on Thursday that it will delist China Telecom, China Mobile, and China Unicom Hong Kong.
Crude oil prices surged to fresh session highs on Monday ahead of OPEC virtual meeting to decide whether to add as much as 500,000 barrels a day to production.
In the currency market, the commodity currencies the Australian dollar and New Zealand dollar climbed to 32-month highs on Monday supported by the Gold and Oil price rally.
Gold climbed more than 1% to the highest level in almost two months as global COVID-19 cases spiked, and several countries pushed for more lockdowns.
On the data front, the China Caixin/Markit manufacturing PMI fell to 53.0 in December from 54.9 in November.
This week the investors will closely monitor Tuesday's Georgia runoff elections that will decide the control of the U.S. Senate, U.S. Federal Reserve's minutes of the latest meeting on Wednesday and U.S. unemployment report for December is due Friday.
Worldwide infections climbed above 85 million. In the U.S., there are about 20.5 million confirmed cases of coronavirus and more than 350,000 COVID-19 deaths. Germany is due to extend its nationwide lockdown until the end of January, with more than 10,000 infections reported on Sunday.
EUR/USD: The currency pair trading steady above 1.2250 on Monday. The important levels to watch this week 1.2200 and 1.2310.
The important levels to watch for today: Support- 1.2240 and 1.2210 Resistance- 1.2275 and 1.2310.
GOLD: The gold price opened gap up on Monday. Overall momentum remained bullish throughout the Asian session.
The important levels to watch for today: Support- 1910 and 1900 Resistance- 1926 and 1932.
Quote of the day: Welcome responsibilities as it will bring in more chances of being successful and prosperous in this New Year.