Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP : climbs above 0.8600 key point
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold enters a consolidation phase and continues to trade above 23.6% retracement area .
US Market View
U.S. stocks are set to open mixed later, extending a consolidation that began on Tuesday and is hinting that the latest round of stimulus checks isn’t necessarily going straight into the stock market.
The Federal Reserve will release the minutes from its last policy meeting, adding further nuance to a message from Chairman Jerome Powell’s press conference that was overwhelmingly dovish. They may make for an interesting contrast with an increasingly bright outlook for the U.S. economy: the IMF revised up its forecast for U.S. growth this year on Monday to 6%, from only 5.5% in January.
Crude oil prices continue to struggle below $60 a barrel, in the wake of last week’s decision by OPEC and its allies to raise output by over 1 million barrels a day during the second quarter. The mood was damped by the progress of the Covid-19 pandemic in India, South America and Europe, which are all expected to stay under demand-sapping lockdowns for some time yet.
USA Key Point
- Fed's Evans: 'Substantial further progress' won't be met for a while.
- Canada February international merchandise trade balance +1.04B vs +1.30B expected.
- The CHF is the strongest and the AUD is the weakest.
- Germany's Merkel said to back 'short national lockdown' to curb virus situation.
- German government says that health system is under threat, coming under pressure.
- Fed's Kaplan: As we're making progress towards our goals, it would be healthier to wean off these extraordinary measures.
- ECB's Knot: We can flexibly adjust PEPP volumes even within the quarter, if appropriate.
- Treasury yields stay on the retreat to start the session.
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.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?