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AUD/USD is dropping after the RBA decision and statement
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver after yesterday’s rally is trading above 38.2% retracement area.
EU Market View
Asian equity markets advanced after the firm handover from Wall St with the resurgence led by the tech sector. European stock markets are seen opening higher Tuesday, helped by signs of progress towards further U.S. stimulus, while concerns over volatile retail-led trading receded. U.S. President Joe Biden sat down late Monday with a group of ten Republican senators to discuss their proposal of a scaled-back Covid-19 stimulus package, in a welcome sign of bipartisan co-operation in Washington.
That said, Biden insisted on keeping the $1.9 trillion price tag that he proposed in January, saying that the downsized effort does not go far enough to solve the coronavirus crisis. And senior Democrats later filed a joint $1.9 trillion budget measure in a step toward aimed at bypassing Republicans.
Oil prices pushed higher Tuesday, helped by newswire reports that the major oil producers have shown restraint in terms of production levels in January even as prices rose.
Looking ahead, highlights from macroeconomic calendar include Eurozone GDP, OPEC JTC meeting, Fed's Kaplan, Williams, Mester, speeches.
EU Key Point
- Silver in retreat, falls by 4% back below $28.
- EU's von der Leyen: Target is to vaccinate 70% of adult population in Europe by summer.
- Germany reports 6,114 new coronavirus cases, 861 deaths in latest update today.
- The Reserve Bank of today Australia said the cash rate is not expected to rise until 2024.
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