Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Dollar lower, risk shrugs off stimulus worries
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 bulls try to remain above the critical retracement area of 38.2%.
US Market View
U.S. stocks are set to open moderately higher, with signs of the market slowing down ahead of the Christmas holiday. France agreed to reopen its border with the U.K., after sealing it at the weekend in response to the discovery of a new and more contagious variant of the Covid-19 virus.
Crude oil prices edged higher overnight, rebounding after a surprise build in U.S. inventories last week. The American Petroleum Industry estimated that crude stockpiles rose 2.7 million barrels last week, the sixth straight weekly increase and the biggest in four weeks
USA Key Point
- EU member states have started to prepare for provisional application of UK deal
- US November prelim durable goods orders +0.9% vs +0.6% expected
- Canada October GDP +0.4% m/m vs +0.3% expected
- The NZD is the strongest and the CHF is the weakest
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…
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Best Instruments to Trade This Week
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.
European Currencies Ahead of the Banks' Statements
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.
Will the FOMC Surprise the Markets?
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.
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