Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Calm Markets before 2020 United States Presidential Debate
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold moves day by day lower. Gold struggles now to touch even the 23.6% retracement area which seems to be a hope for bulls.
EU Market View
Asian stocks began the week mostly higher as the region picked up the baton from last Friday’s tech-driven momentum on Wall Street. US House Speaker Pelosi thinks a coronavirus stimulus deal is still possible and suggested that Democrats will make a new ‘proffer’ to US Treasury Secretary Mnuchin. Looking ahead, highlights from the macroeconomic calendar include ECB's Schnabel, Lagarde, Fed's Mester speeches.
EU Key Point
- Spain reportedly to revise lower its 2020 GDP forecast to -11%
- Nikkei 225 closes higher by 1.32% at 23,511.62
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.