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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.
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.
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