
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Fibonacci Levels
XAU/USD: Gold facing a further consolidation above 23.6% retracement area. Bulls have returned recently.
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
US Market View
U.S. stock indexes were set to open slightly higher on Wednesday, although a lack of clear catalysts kept trading slow, with investors awaiting fresh cues from inflation data this week and an upcoming Federal Reserve meeting
U.S. President Biden departs for Britain on Wednesday on his first trip abroad since taking office, heading to St. Ives in Cornwall for a G-7 summit. The meeting is likely to be dominated by discussions over the availability of Western coronavirus vaccines, amid differences over how to make more shots available to low-income countries as well as the intellectual property rights for the drug makers. That said, before Thursday’s get together, officials from Britain and the European Union are set to meet to try and defuse a row over Northern Ireland that threatens to spill over into legal action.
Markets have been on tenterhooks for much of this week ahead of Thursday’s release of the U.S. consumer price index for May. This will be one of the last major pieces of economic data ahead of the upcoming Fed meeting next week and a big number could jolt the central bank into action.
If China’s inflationary backdrop is any guide, the market is holding its breath with just cause. China's factory gate prices rose at their fastest annual pace in over 12 years in May, driven by surging commodity prices, highlighting the mounting global inflation pressures. China's PPI increased 9.0% on the year, a sharp jump from the 6.8% increase in April, with the rise driven by significant price increases in crude oil, iron ore and non-ferrous metals.
Crude oil prices pushed higher Wednesday, helped by growing confidence about the outlook of fuel demand as the global economy recovers, particularly the U.S., the largest consumer in the world.
USA Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
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