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 focusing on ECB and euro
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAG/USD: Silver moves above 38.2 % retracement level. It seems that gold bulls the last day lose control.
European Market View
Asian equity markets were cautious amid headwinds from the soured mood on Wall St with the downturn led by hefty losses in the Nasdaq. The Dow cut its gains to turn negative Wednesday, as a fall in technology stocks and a lack of progress over negotiations on Capitol Hill over a stimulus relief package weighed on investor sentiment. The lack of progress on stimulus has been overshadowed by positive vaccine news. But as the rollout of a vaccine nears, Stifel said deliveries this month could fall short of target. The United States set a single-day record on Wednesday of more than 3,000 deaths linked to the novel coronavirus, according to a Washington Post analysis. Texas, Colorado, Illinois and Pennsylvania led the way, with each state reporting more than 200 deaths
ECB knows that only monetary policy won't be the answer to boosting inflation back to target levels and fiscal action is needed as well. Euro has been one of the best performing major currencies, having appreciated 8% against the Dollar so far while rebounding 14% from the March lows.
Looking ahead, highlights rom macroeconomic calendar include UK GDP and output data, Swedish inflation, ECB rate decision & press conference, US CPI, IJC, EU Council Meeting, BoC's Beaudry, FDA EUA meeting
EU Key Point
- UK's Raab: Never say never, Brexit talks could continue after Sunday
- UK October monthly GDP +0.4% vs 0.0% m/m expected
- EU leaders reportedly won't debate on Brexit at the summit today
- Germany reports record 23,679 new coronavirus cases in latest update today
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