Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/JPY : Risk on euphoria gains further momentum
Information is not investment advice
Ichimoku Kinko Hyo
EUR/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 below 23.6% retracement area. Bears control market totally so far.
EU Market View
Asian equity markets traded cautiously during the quarter and fiscal year end with sentiment not helped by the uninspiring lead from the US. European stock markets are seen opening marginally lower Wednesday, handing back some of the gains from the previous session ahead of key inflation and unemployment data. France's health ministry said on Tuesday that the number of people in intensive care units with COVID-19 had reached the highest level this year, while the number of new cases saw a week-on-week increase of 6.3%, the highest such increase since the end of November.
Britain's coronavirus-hammered economy grew more quickly than previously thought in the final three months of 2020, official data showed on Wednesday.Gross domestic product increased by 1.3% between October and December last year from the previous three-month period, compared with an earlier estimate of 1.0% growth, the Office for National Statistics said.
Oil prices rose Wednesday ahead of Thursday’s meeting of the Organization of Petroleum Exporting Countries and its allies, a grouping known as OPEC+, which is set to decide production levels into May.
Looking ahead, highlights from macroeconomic calendar include German labour market report, EZ CPI, US ADP, Canadian GDP, Chicago PMI, DoEs, OPEC+ JMMC, US President Biden, Treasury Secretary Yellen, Fed's Bostics speeches.
EU Key Point
- Germany reports 17,051 new coronavirus cases, 249 deaths in latest update today.
- UBS reportedly may face at least low-three-digit millions of losses from Archegos Capital fallout.
- USD/JPY extends to just shy of 111.
- New lock down for a city in China after new coronavirus cases.
- China March PMIs: Manufacturing 51.9 (expected 51.2).
- Heads up for US President Biden to speak on infrastructure on Wednesday.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.