Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/USD : breaks to highest levels since March 2018
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold continuous to stand below 23.6% retracement area. Bearish pressure is growing.
EU Market View
A record rush to big technology stocks saw equity funds bagging $27.8 billion inflows last week with the ongoing ultra-easy monetary policy. Global market capitalization has risen $50 trillion, or $6.2 billion per hour, since last March, almost 10 times faster than the pace seen in the immediate aftermath of the 2008 global financial crisis. The U.S. Federal Reserve for instance has been purchasing bonds at a record pace, doubling its balance sheet to nearly $8 trillion in less than a year. During the same period, the five biggest tech stocks have seen their market value double.
The European Commission said on Friday Britain's data protection laws were in line with the European Union's despite Brexit and it would start a process to allow a continued flow of police and financial data from the EU to Britain for the next 4 years.
The British pound has become an unexpected currency market poster child for the COVID-19 recovery theme. Since mid-December, sterling has strengthened by around 5.5% against the dollar and by 6.5% versus the euro as Britain's vaccination programme got off to a flying start. Hopes of an earlier end to lockdowns have lifted it 2% against the dollar in February.
EU Key Point
- The AUD is the strongest and the USD is the weakest.
- US futures inch higher ahead of North American trading.
- Gold fails to find reprieve despite pressure on the dollar.
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.