Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
AUD/JPY : Appetite for risk is booming
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold facing the last day a strong bullish trend and stands above 50% retracement area.
US Market View
U.S. stocks are seen opening largely unchanged Friday, consolidating after record closing levels the previous session, but sentiment remains positive as corporate earnings impress and economic data point to a robust recovery. Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump. Government stimulus, a string of strong corporate earnings releases and signs of economic recovery in countries ahead in the COVID-19 vaccination race have all helped push stock markets onto new heights in recent days.
Euro zone finance ministers are discussing on Friday how to improve and possibly unify insolvency laws across the 19-nation bloc, to better prepare for a wave of bankruptcies expected when companies are weaned off government emergency pandemic support. The expected surge in EU corporate bankruptcies will have a knock-on effect on the number of bad loans banks have to handle as the post-pandemic economic recovery starts to take hold and governments begin withdrawing state schemes that are now keeping many non-viable companies on life support.
USA Key Point
- The CHF is the strongest and the NZD is the weakest.
- China Banking and Insurance Regulatory Commission defends Huarong's financial status.
- EUR/USD holds a little higher but still faces resistance closer to 1.2000
Gerasimos Papagiannis
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Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
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