Currencies Little Changed in Riskon Mood; Bank of Canada

Note  The table above is updated before publication with the latest consensus forecasts. However, the text charts are prepared ahead of time. Therefore there can be discrepancies between the forecasts given in the table above and in the text charts. 

Rates as of 0500 GMT

US politics

We have two central bank meetings and a number of important statistics, but Im only interested in one thing today  President Bidens inauguration. There are several questions about this

Will it go off smoothly? There are credible threats of violence, although Washington has been turned into an armed camp more US soldiers there than in Afghanistan right now, apparently. 
What will Bidens first acts be?. He has already unveiled a 1.9tn stimulus proposal as well a goal of 100mn vaccinations in his first 100 days in office. Now hes expected to immediately start issuing Executive Decrees, which allow the President to bypass Congress. Because of the legislative logjam for the last two years, much of Trumps legislation was done that way it can be reversed that way, too. According to the New York Times, today alone President Biden will rescind the travel ban on several predominantly Muslim countries, rejoin the Paris climate change accord, extend pandemicrelated limits on evictions and student loan payments, issue a mask mandate for federal property and interstate travel, and order agencies to figure out how to reunite children separated from families after crossing the border. He also…

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