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AUD, GBP, NZD top session performers against the dollar
Information is not investment advice
Ichimoku Kinko Hyo
AUD/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 continuous to stand above the 38.2% retracement area. The battle between bulls and bears keeps going.
EU Market View
Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US. European stock markets are seen opening marginally higher Thursday, with investors looking to take their cues from the corporate sector on another busy earnings day. Stock markets have posted strong gains over the last few months on expectations that additional US fiscal stimulus coupled with global vaccination programs would usher in a period of economic growth as the influence of the coronavirus pandemic waned.
However, the European markets have woken up Thursday to more muted trading elsewhere, with Wall Street closing marginally lower overnight and many countries in Asia-Pacific, including China, Japan, and South Korea, shut for holidays.
Looking ahead highlights from the macroeconomic calendar include US initial/continued jobless claims, OPEC & IEA, ECB's de Guindos, and supply from Italy and the US, earnings.
EU Key Point
- Germany reports 10 237 new coronavirus cases, 666 deaths in the latest update today.
- US President Biden tweets: "I will work with China when it benefits the American people."
- Biden, Xi (US & China presidents) spoke on the phone - Biden was concerned about unfair economic practices.
- US President Biden set to announce a review of strategy on China.
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