Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP: Bullish trend remains strong
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. Further bearish pressure will lead the currency pair to retest the previous lows.
XAG/USD: Silver bulls return dynamically in order to send price above 61.8% retracement area.
European Market View
A tentative mood was seen in Asia-Pacific bourses following the flat performance on Wall Street, whilst Chinese Caixin Services PMI printed its second-highest reading in a decade. Looking ahead, highlights from macroeconomic calendar include Eurozone, UK and US Markit Services and Composite Final PMIs, EZ Retail Sales, US Initial Jobless Claims, ISM Services PMI, OPEC+ meeting. Britain became the first Western country to approve a COVID-19 vaccine, with 800,000 doses of the Pfizer and BioNTech vaccine available for those at high risk starting next week. Hopes that the pandemic, which has so far killed nearly 1.5 million people globally, will finally be brought under control sparked a risk-on rally in currency markets with the Australian and New Zealand dollars advancing against their U.S. counterpart.
EU Key Point
- US confirms travel curbs on Chines Communist Party members
- Cable inches back above 1.3400, awaiting further Brexit clues
- Germany reports 22,046 new coronavirus cases in latest update today
- Los Angeles announces a city-wide lockdown stay at home order
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.