Forexlive Americas FX news wrap 17 Jan: US Supreme Court affirms decision to shut TikTok. ...Middle East

US stock indice close higher on the day and have positive returns for the weekBaker Hughes oil rig count down -2 to 468European indices close higher. Record closing levels for some of the indices.Bitcoin jumps to $105,000Atlanta Fed GDPNow growth estimate for Q4 unchanged at 3.0%Bank of Canada releases what they learned from the actions of the pandemicTrump: It is ultimately goes up to me so you are going to see what I'm going to do"Trump: Plans on a flood of immigration executive orders on Day 1US Supreme Court rules ag TikTok challenge to law that would force sale or ban app in USMore from China's Xi: There are differnces. The key is finding ways to resolve issuesTrump: The call with Xi was a very good one for both China and USAUS industrial production for December 0.9% versus 0.3% expectedGeopolitic: China's Xi had a phone call with Pres. Elect TrumpCanada securities transactions for November C$17.85 billion versus C$-2.65 billion lastUS December housing start 1.499M versus 1.320M estimateECBs Elderson: If we lower the interest rate too fast, service inflation could riseKickstart the NA session with a technical look at the EURUSD, USDJPY and GBPUSDForexLive European FX news wrap: Dollar remains steady, UK retail sales disappointFed's Hammack: We can be very patient in considering future rate cuts

Crude oil: $-0.47 at $77.38Gold $-11.90 or -0.44% at $2701.83Silver is $0.47 or -1.54% at $30.32Bitcoin up $4864 or 4.87% at $104,831

The USD is ending the day higher versus all the major currency pairs.

The US economic data was supportive with housing starts and building permits both higher than expectations (although multifamily units helped to increase the numbers).

US yields did move higher and are closing near the highs for the day:

2 year yield 4.287%, +4.7 basis points. The high yield this week reached 4.424%five year 4.431%, +3.3 basis points. The high yield this week reached 4.624%10 year 4.67%, +2.1 basis points. The high yield this week reached 4.809% 30 year 4.856%, +1.2 basis points. The high yield this week reached 5.005%.

For the day:

Dow industrial average rose 334.70 points or 0.78% at 43487.83S&P index rose 59.32 points or 1.00% at 5996.66NASDAQ index rose 291.91 points or 1.51% at 19630.20Russell 2000 rose 9.08 points or 0.40% at 2275.88

Dow industrial average rose 3.69%.S&P index rose 2.91%NASDAQ index rose 2.45%

On Monday the bond and stock markets will be close in observance of Martin Luther King Jr. holiday. The presidential inauguration will also take place on that day for Donald Trump. Although it will be a day of celebration and festivities, there is likely to be number of preplanned Executive Orders that may go through including border control.

Nevertheless, will the Chinese shut down the site in the US? Will Pres.Trump have any definitive solutions or "stays of execution" to avoid a total mental breakdown of Tiktokers?

Adam is back next week. Have a fun and safe weekend.

This article was written by Greg Michalowski at www.forexlive.com.

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