Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Biden’s victory is by far the most likely scenario – USD to lose
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY is trading below the Kumo. An upward wave would lead the pair to exit the cloud, confirming a new bullish outlook.
XAG/USD: Silver moves below 50% retracement level. It seems that silver bears still struggle to move higher.
US Market View
Wall Street's main indexes opened higher on Wednesday as the race for the White House went down to the wire, although investors remained worried about the prospect of a contested result. Democratic contender Joe Biden took to the air to declare he was optimistic about winning and called for all votes to be counted, no matter how long it took. President Donald Trump responded in trademark combative style, saying he had won, that "they" were trying to steal the election, and that he would go the U.S. Supreme Court to fight for victory
USA Key Point
- The latest vote count in Michigan now helping Biden
- US October Markit final services come at PMI 56.9 vs 56.0 than expected
- US major indices open higher led by the NASDAQ index
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.