US House Democrats Monday began an attempt to remove Trump from office, the Democrats want the vice president, Mike Pence, to invoke the 25th Amendment and remove Donald Trump from office. The impeachment escalated after he incited riots by his supporters on Capitol Hill last week.
Japan, Russia, and Mexico detected its first case of the new coronavirus strain, which was first discovered in the United Kingdom (UK) last month. The new and more contagious UK variant can be up to 70 per cent more transmissible than other SARS-CoV-2 variants.
The US nonfarm payrolls report is the highlight of today’s economic calendar. US Bureau of Labor Statistics will release the NFP at 13:30 GMT. The market participants are expecting 71k jobs added in December and the unemployment rate is expected to rise by 0.1% to 6.8%.
On Wednesday, the FED released the December meeting minutes, the minutes showed all FOMC members felt the current pace of purchases was appropriate. The FED committed to using its full range of tools to support the US economy.
The Euro broke further above the psychological level of 1.2300 and climbed to a fresh session high of 1.2340 on Wednesday. The recent bullish move lifted by the weaker dollar and better-than-expected economic data from Eurozone and Germany.