Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Appetite for risk gains before critical ECB monetary decision
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAG/USD: Silver bulls show a remarkable strength the last hours and send price above the critical 38.2% retracement area.
EU Market View
Asia-Pac bourses traded mostly positive as the region built upon the somewhat mixed performance stateside. European stock markets are seen opening marginally higher Thursday, boosted by the final approval of the U.S. Covid-19 stimulus package, but with moves likely to be modest amid caution ahead of the European Central Bank's policy meeting later. European markets received a positive handover from Wall Street, with the Dow Jones benchmark posting a record close, after the House of Representatives gave its final approval to the Biden administration’s $1.9 trillion Covid relief package, one of the largest economic stimulus measures in U.S. history.
Catch up on further fiscal developments and ECB sources ahead of today's policy announcement and press conference alongside the OPEC MOMR and US Initial Jobless Claims.
The ECB is set to leave its deposit rate at -0.50% and its bond-buying scheme at its current size of €1.85 trillion. Lagarde could promise action in the upcoming April meeting if returns on debt costs remain burdensome. If the ECB announces a surprising increase of some €500 billion to its bond-buying scheme and especially if this buying is mostly done imminently it could turn the picture in favor of the euro.
EU Key Point
- Germany reports 14,356 new coronavirus cases, 321 deaths in latest update today.
- US official tells US President Biden is still seeking to make the child tax credit permanent.
- USD drifting lower, US equity index futures trading higher.
- US President Biden to address the nation Thursday.
- US dollar downtrend to recommence despite surging economy.
- NZD/USD to run up amid near-term volatility.
- USD/CAD consolidates the downside around 1.2600 amid a pause in WTI rally.
- GBP/USD holds two-month downtrend.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.