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ECB Monetary Policy Time

ECB Monetary Policy Time

Information is not investment advice

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

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Fibonacci Levels

XAU/USD: Gold stands above 38.2% retracement area. A dovish ECB later today can help gold bulls.

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EU Market View

Asia-Pacific bourses were mostly positive after taking advantage of the constructive handover from the US where Nasdaq rebounded . Saudi Arabia reportedly plans to keep oil production steady despite a recent slump in prices. Looking ahead, highlights from macroeconomic calendar include Norwegian and Swedish CPI, ECB policy announcement, US weekly jobs, US PPI, ECB's Lagarde press conference.

EU Key Point

  • Irish PM Martin supports that UK needs to restore trust and give meaningful reassurance to EU negotiators
  • Tokyo lowers virus alert in the city by one level

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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

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