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 off remains and gains momentum
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold a remarkable sell off is taking place.
US Market View
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday. Crude oil prices also fell on the same pandemic concerns. News flow from the pandemic took a turn for the worse, as President Joe Biden warned of another 100,000 deaths within the next month, while Tokyo faced up to fears it may have to cancel the rescheduled summer Olympics. PMIs in Europe also ticked down and government deficits ticked up. The news flow around the pandemic took a darker turn around much of the world. President Joe Biden said the U.S. death toll from Covid-19 could top 500,000 in the next month, while Germany’s topped 50,000.
U.K. Prime Minister Boris Johnson warned that the current lockdown could last until summer and Japan’s government was forced to deny reports that it will be forced to cancel the summer Olympic Games, which were already rescheduled once last year.
The Eurozone economy fell deeper into contraction territory at the start of the year, according to purchasing managers indices released by IHS Markit.
The Composite PMI for the Eurozone fell to 47.5 from 49.1, against a backdrop of restrictions on social life and economic activity that have been successively tightened as new strains of the virus have been discovered.
USA Key Point
- London COVID-19 variant found in Japan.
- Pfizer supply issue slows vaccination program.
- AUDNZD bond yield divergence favors sellers.
- Copper falls nearly 2% on risk off tones.
Gerasimos Papagiannis
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Brent: Future is Still Sunny
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
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