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Aussie bullish trend reveals an appetite for risk
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 further sell off disappoints traders who were looking for a bullish rebound. Gold broke down all retracement areas.
EU Market View
Asian equity markets were mostly positive amid several bullish factors including ongoing vaccine hopes, strong US PMI data and reports that President-elect Biden is to pick former Fed Chair Yellen for Treasury Secretary. President Donald Trump tweeted that he had told his team "do what needs to be done with regard to initial protocols", an indication he was moving toward a transition after weeks of legal challenges to the election results.
Further reports note that the EU and UK are on the cusp of a Brexit deal, with Barnier set to return to London on Friday, should he test negative for COVID. Looking ahead, highlights from macroeconomic calendar include German IFO, US Consumer Confidence, BoE's Haskel, Fed's Bullard, Williams, ECB's Schnabel, Lagarde, Lane speeches.
EU Key Point
- German states reportedly propose extending virus relief payments for companies into December
- Germany reports 13,554 new coronavirus cases in latest update today
- BOJ's Kuroda supports that will take additional easing steps if virus impact becomes more severe
- ECB's Lagarde and Lane will both speak on Tuesday
- Trump tweets that he "Will never concede"
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