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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.
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