Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Cable falls to one-week low as pound slips
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further strength the last hours and trading on the retracement area of 23.6%.
US Market View
Retail sales data for February will set the tone for the Federal Reserve’s two-day policy meeting that starts later. Industrial production and housing market data are also due.US retail sales were up 6.3% y/y in February despite the bad weather and a 17.4% drop in food services & drinking places. The Federal Reserve starts a two-day policy meeting against the backdrop of a market that seems, for now, to have finished repricing its inflation expectations. The 10yr Treasury yields is steady at just over 1.60%.
A third wave of Covid-19 infections is building in Europe, with Germany, France, Italy and the Benelux countries all reporting rising infections. The situation isn’t being helped by Europe’s ongoing efforts to sabotage its own vaccination program. A German decision to stop distributing the AstraZeneca-Oxford University vaccine on Monday led to France and Italy following suit. The Italian medicines regulator called it a political decision while the European Medicines Agency, which is responsible for declaring medical products safe, repeated its opinion that the benefits of the vaccine outweigh any risks.
Chinese President Xi Jinping reiterated the need for tighter regulation of the country’s Internet platform companies, stepping up a campaign that began late last year with the derailing of Ant Group’s IPO.
Crude oil prices continued to weaken ahead of U.S. inventory data later in the day from the American Petroleum Institute.
USA Key Point
- EURUSD rotates back between the 100- and 200-hours moving averages.
- US February advance retail sales -3.0% vs -0.5% expected.
- The CHF is the strongest and the GBP is the weakest.
- Fauci: No red flags on vaccine safety in the US thus far.
- Dollar pares advance as the push and pull continues ahead of the Fed tomorrow.
- Germany March ZEW survey current situation -61.0 vs -62.0 expected.
- COVID-19 no longer top market risk for the first time since February 2020 - BofA fund manager survey.
- ECB's Lane: We are not at the lower bound in terms of rates.
- Gold keeps steadier to start the week, but the Fed still holds the key for what comes next.
- European assets are taking the vaccine disturbance in stride, for now at least.
- AUD/USD nudges lower to test key near-term levels once again on firmer dollar.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
Will USDJPY slide lower in 2023?
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?
BoC Rates Could Alter The Trend on USDCAD and others
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.
MSFT faces gloomy forecasts ahead of earnings report
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.
Choose your payment system
