Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/USD : turns flat as major currencies keep little changed for the most part.
Information is not investment advice
XAG/USD: Zilver facing a further consolidation below 23.6% retracement area. Bulls have returned recently.
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
US Market View
U.S. stocks are seen opening marginally higher Friday, continuing the previous session’s rebound ahead of housing data and key business surveys. Despite gains, the Dow is on track to see its fourth negative week out of the past five weeks and the S&P 500 is on pace for its second negative week in a row. The Nasdaq Composite, on the other hand, is positioned to break a 4-week losing streak.
Friday’s data slate includes existing home sales for April at 10 AM ET, which are expected to show a slight improvement as the spring selling season gets going, as well as May PMI data, 15 minutes earlier. PMI releases from Europe earlier in the session showed the region’s services sector coming back to life as manufacturing cooled.
Investors have been fretting this week over the minutes from the April Federal Reserve meeting which showed that the FOMC members had started discussions about potentially tapering the central bank’s asset purchase programs.
The dollar traded lower in early European trade Friday, heading for a weekly loss as concerns eased over Federal Reserve members discussing potentially tapering back bond buying. The dollar has given back a bounce it made after a mention of possible future tapering discussions, in minutes from the Fed's April meeting, prompted fears of early rate rises. Data released on Thursday showed that U.S. initial claims fell to 444,000 over the past week, a new post-pandemic low, adding to evidence of a steady recovery in the labor market. That said, the number of continue claims, which are measured with a one-week time lag to initial ones, rose by over 100,000, suggesting the recovery still has some way to go.
USA Key Point
- AUD/USD turns flat as major currencies keep little changed for the most part.
- Risk continues to hold steadier in European morning trad
- German health official says studies suggest existing vaccines are less effective against India COVID-19 varian
- UK May flash services PMI 61.8 vs 62.2 expecte
- Commodity currencies lag a little despite steadier risk tones so fa
- Eurozone May flash services PMI 55.1 vs 52.5 expecte
- Germany May flash manufacturing PMI 64.0 vs 65.9 expecte
- France May flash services PMI 56.6 vs 53.0 expect
- European equities keep a little higher to start the da
- UK April retail sales 9.2% vs +4.5% m/m expecte
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.