Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Dollar pares gains, equities trim losses ahead evening trading
Information is not investment advice
Ichimoku Kinko Hyo
CHF/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 a remarkable rally is trading above 38.2% retracement area.
US Market View
U.S. stocks are seen trading lower Friday, with the week’s volatile trading, sparked by retail traders’ activism, set to continue. The main U.S. equity indices are on course for their worst week since the end of October, amid heightened volatility spurred by speculative trading from retail investors. U.S. stock markets are set to open clearly lower again, amid expectations that hedge funds will again be forced to liquidate long positions to meet margin calls on shorts that are again being squeezed by retail traders.
Oil prices edged higher Friday, boosted by upcoming supply cuts from Saudi Arabia, the largest exporter of oil in the world, as well as falls in U.S. crude stockpiles.
The Eurozone economy may have shrunk less than estimated in the fourth quarter, according to releases from some of its bigger member states on Friday. Germany’s gross domestic product rose by 0.1% in the quarter, a little better than the stagnation implicit in the country’s earlier estimate for 2020 as a whole. French GDP fell by 1.3%, much less than the 4% drop expected,
USA Key Point
- The NZD is the strongest and the JPY is the weakest.
- Johnson & Johnson says its vaccine is 66% effective overall.
- ECB unlikely to cut rates as benefit seen limited.
- Silver in the spotlight
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.