Brent: Future is Still Sunny
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
AUD/JPY : Risk is positive across markets
Information is not investment advice
Ichimoku Kinko Hyo
CHF/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
XAG/USD: Silver is trading above 59% retracement area. Bullish pressure is growing today.
US Market View
President Joe Biden scored a political win by sealing a $579 billion infrastructure deal with a group of Democratic and Republican senators, yet the bipartisan plan faces hurdles in Congress that reflect challenges to his broader economic agenda. With the agreement, announced outside the White House on Thursday with grinning Republican senators at his side, Biden can claim he’s meeting a promise to govern for all Americans and seek compromise with his opponents.
However, he made clear that partisan divides remain. As the Republican senators looked on, he told reporters that he expects Democrats to ram through an even larger bill with more spending alongside the bipartisan legislation. Τhe president and his aides have laid out some guardrails for the debate to come, saying they don’t intend to use the Democratic-only legislation to change the terms of the bipartisan deal, such as increasing funding for Amtrak.
But parts of Biden’s $2.2 trillion “American Jobs Plan” that were left out of the bipartisan agreement entirely are fair game, Ricchetti said, such as $400 billion to support home- and community-based caregiving and $200 billion for affordable and sustainable housing. The dollar edged marginally lower in early European trade Friday, as traders warily awaited the release of key inflation data for clues over future Federal Reserve policy.
The dollar received a jolt higher last week after the Federal Reserve brought forward its median forecasts for interest rates hikes, but subsequent comments from Chairman Powell over inflation pressures still being temporary in nature have soothed market nerves over the potential for early moves by the central bank to rein in its very accommodative monetary policies.
US Key Point
- EM markets bonds first outflow in 12 weeks
- German health official Wieler says Delta is spreading fast.
- Eurozone May M3 money supply 8.4% vs 8.5% y/y expected.
- US oil remains a buy on dips even as OPEC+ look to increase production.
- NZD the strongest and the JPY the weakest against the USD.
Gerasimos Papagiannis
Similar
How will ECB Drive EUR?
What will happen? The European Central Bank will present the monetary policy statement on June 22…
USD/CAD Reversal Pattern
After a notable rally all the way to 1.28, USD/CAD dropped back to 1.2730 yesterday, confirming our outlook mentioned a few days ago about the need for a downside retracement before the upside trend resumes.
Popular
Brent: Future is Still Sunny
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
New Trend in Tech Stocks?
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD Holding After ECB Decision
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
Choose your payment system
