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AUD/USD : head and shoulders top attracting attention
Information is not investment advice
XAG/USD: Silver stands below 23.6% retracement area. Bearish pressure is growing, and silver moves to a full retracement.
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.
EU Market View
European stock markets are seen opening lower Wednesday, continuing the global weakness, as doubts about the speed of recovery from the Covid-19 pandemic weigh on sentiment. The safe-haven U.S. dollar approached a four-month high on Wednesday as concerns over a third COVID-19 wave in Europe, potential U.S. tax hikes and escalating tensions between the West and China sapped risk appetite. The yen also strengthened and U.S. Treasuries were bid while Wall Street stocks and crude oil plunged as investors weighed the outlook for global growth. Oil prices pushed higher Wednesday, steadying after the sharp losses of the previous session, but worries about a slow recovery to demand remain given the fresh lockdowns in Europe and a build in U.S. inventories.
US President Biden's first proposals on discretionary spending for fiscal 2022 will be released next week and a full budget is expected later in the Spring. Looking ahead, highlights from macroeconomic calendar include UK CPI, EZ, UK & US flash PMIs, EZ consumer confidence, Fed's Barkin, Powell, Williams, Daly, Evans, Treasury Secretary Yellen, ECB's Lagarde.
EU Key Point
- AUD/USD challenges key support level as sellers start to search for more downside momentum.
- BOJ's Kuroda: To continue with powerful monetary easing persistently.
- A break below 0.7000 spells more risk for NZD/USD.
- Germany reports 15,813 new coronavirus cases, 248 deaths in latest update today.
- AUD/USD head and shoulders top attracting some attention.
- Australia's largest state to substantially remove COVID-19 restrictions from Monday.
- EUR/USD at risk of a further decline, levels to watch for a breakdown.
- GBP/USD to extend the decline to the 1.3600 level.
- Dollar shrugs off yields and continues rising.
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