I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
All eyes are focusing on today's US inflation number
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand above 50% retracement area. Bullish pressure is growing during the last days and it seems that bulls have decided to send price higher.
EU Market View
The COVID-19 pandemic has prompted businesses to rapidly digitize their operations, leading to a surge in productivity in the United States, Goldman Sachs analysts said. Since the health crisis began, annualized growth in output per hour has risen 3.1%, a big jump from the 1.4% growth recorded in the previous business cycle, the analysts said.
More than 900,000 people in France rushed to set up appointments to get vaccinated on Monday night after the president warned that people would see curbs imposed on them if they did not have a health pass that covered a vaccine or negative COVID test. Unveiling sweeping measures to combat a surge in infections, Emmanuel Macron said vaccination would not be compulsory for the general public for now but stressed that restrictions would focus on those who are not vaccinated.
The European Central Bank has pledged to be "persistent" and will not repeat its past mistake of tightening policy too early, its president Christine Lagarde said in an interview published on Tuesday. "The use of 'persistent' (in the ECB's new strategy) is an indication that there cannot be premature monetary tightening as we have seen it in the past," Lagarde told the Financial Times.
The dollar barely budged against the euro, yen and pound on Tuesday ahead of U.S. inflation data, while the Australian dollar and Chinese currency ticked higher after reassuring export numbers from Beijing.The possibility of U.S. stimulus withdrawal - brought to the fore by a surprise shift in tone last month from the Federal Reserve - has boosted the dollar in recent weeks despite a renewed rise in coronavirus cases in many parts of the world. With U.S. consumer price inflation later likely to feed the debate, the greenback was virtually unchanged versus the euro at $1.1856 after its more than 2% rise versus the common currency over the last month. Economists polled by Reuters expect the U.S. CPI to have risen 0.5% from May and 4.9% from a year earlier. Dealers reckon a miss on either side could move the dollar and the bond market by shifting expectations on interest rates.
EU Key Point
- ECB's Lagarde: New strategy gives us ability to be flexible around 2% inflation.
- BOE says FPC expects to maintain countercylical capital buffer rate at 0% at least until December.
- Germany June final CPI +2.3% vs +2.3% y/y prelim
- Risk tones keep steadier ahead of European trading.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus