Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Cable hit record high since 2018
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold bulls return and send price above the 23.6% retracement area.
US Market View
US stocks are seen trading slightly lower Tuesday, consolidating from record levels, with investors keeping a wary eye on the ongoing earnings season and ahead of Donald Trump’s second impeachment trial. All three major indices on Wall Street closed at all-time highs on Monday. The Dow Jones Industrial Average and S&P 500 have now advanced for six straight sessions, their longest win streaks since August, while the Nasdaq Composite has finished higher on five of those six days. Also helping the tone has been a largely positive earnings season so far, coupled with improving numbers on the pandemic. The United States reported a 25% drop in new cases of Covid-19 to about 825,000 last week, the biggest fall since the pandemic started, while deaths fell 2.5%.
Sino-US ties will stay tense as US President Joe Biden is unlikely to rush into new deals with the world's second-largest economy or reduce tariffs on China, even if he is willing to re-engage with multilateral trade, economists and strategists said.
USA Key Point
- USDJPY trending lower and stepping through technical levels in the process.
- The CHF is the strongest and the USD is the weakest.
- Risk trades ease lower as the market catches its breath.
- Silver up by nearly 2% on the day as buyers’ eye $28 again.
- Italian 10-year bond yields fall to record low as Draghi government eyed.
- EUR/USD extends gains to 1.2100 as the dollar slips further on the day.
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.