04.01.2021: Mass vaccination arouses risk-on mood (DJIA, USDX, USD/CAD, BTC/USD)

Futures on the US stock indices are growing amid overall optimism. Extending weakness across major currencies, the US dollar has tumbled to the lowest level since April 2018. Bitcoin is trading slightly lower since it has hit an all-time high.
Futures on the benchmark US stock indices are keeping the bullish momentum as investors believe that efficient vaccines and generous fiscal stimulus from the US government will contribute to the rapid recovery of the global economy.
The Dow Jones grew 0.38%. The Nasdaq rose 0.42%. The S&P 500 gained 0.53%.
Investors are beginning the new 2021 year on the optimistic note in anticipation of the large-scale vaccination campaign.
At the same time, the market neglects bad news on the coronavirus front. Investors attach importance to the economic recovery, ultra-low interest rates maintained by global central banks, massive budget spending, and a further accommodative monetary policy.
In late December, US lawmakers eventually agreed and passed the stimulus bill worth nearly 900 billion dollars to support the pandemic-stricken domestic economy. The package is included in the state budget for 2021.
In the meantime, the US dollar is extending its losing streak across the board. Its index has sunk 0.37% to 89.60, the weakest level since April 2018.
Today, on the first trading day of the year, financial markets are regaining appetite for risk, thus propelling a rally in stock markets. The risk-on mood is putting pressure on the safe-haven US dollar. Market participants hope that the coronavirus vaccines are set to ensure the green shoots of recovery this year.
The US dollar index weakened over 6% for the whole 2020. So, the index closed the last year with the first annual decline for the first time since 2017.
The greenback is also giving in to its Canadian counterpart. The USD/CAD pair dropped 0.12% to trade at 1.2712.
Today bitcoin is trading lower since it has set the all-time record over the weekend.
On Sunday, January 3, the number one cryptocurrency soared to a new historic high that was 34,778 dollars per token. Today, it shed 18.18% to trade at 31,160 dollars.
Global financial markets are trading higher amid upbeat sentiment. Market participants are betting on the robust economic recovery amid the rapid vaccination worldwide. The news environment is quiet today. The mass vaccination campaign in the US has not been as successful as it was expected. As of January 2, only 4.2 million Americans have been given the first of the two vaccine jabs. Originally, the plan was to provide 20 million Americans with two vaccine doses by early January.

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