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Dollar is firmer, reflation bets climb
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 after further weakness is trading below the 23.6% retracement area.
US Market View
The US is ready for “extreme competition” with China over the next four years, President Joe Biden said at the weekend. In an interview with CBS, Biden appeared to suggest that US policy toward China will be less confrontational than under his predecessor but will not differ significantly in its aims.
US stock markets are set for a run at new record highs on Monday, against a backdrop of an improving public health picture and the steady progress of President Biden’s $1.9 stimulus package.New infections of Covid-19 fell to under 100 000 for the first time in nearly three months at the weekend, while the strain on hospital capacity also eased further, with only 81 000 admissions, its lowest since late November. On the downside, AstraZeneca reported its vaccine had limited efficacy against the new variant of the virus first identified in South Africa.
Crude oil prices hit $60 a barrel for the first time in a year, as part of a multi-faceted rally in risk assets across global markets. Prices were supported by Biden’s tough-sounding words on Iran, which took the edge off fears for a quick resumption and ramp-up of Iranian oil exports.
USA Key Point
- The USD is the strongest and the GBP is the weakest.
- Bitcoin soars to fresh all-time high on Tesla investment.
- Merkel: Virus infections must come down for another two more weeks.
- The cable retreats below 1.3700 on firmer dollar, tests key near-term level.
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