
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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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.
Fibonacci Levels
XAU/USD: Gold continuous to stand above 50% retracement area. Gold bulls appear very strong.
EU Market View
Asian shares reversed early losses on Thursday and traded near two-week highs while the dollar held at a one-week top as investors awaited key U.S. data to gauge whether inflationary pressures were transient or signalled a more durable turn. The monthly U.S. personal consumption report is due out on Friday while U.S. gross domestic product and jobless claims numbers are expected later in the day. Global equity market has been supported by an effort from major central banks who have pumped trillions of dollars into financial markets since last year while reiterating their lower-for-longer interest rate stance.
Earlier this week, U.S. Federal Reserve Vice Chair Richard Clarida said he believed recent inflation pressures would “prove to be largely transitory,” though he did add that policymakers will be at a point to begin discussing tapering in upcoming meetings. However, remarks from the Fed Vice Chair ,suggested that at some stage it will become important for the U.S. central bank to discuss plans to tighten its asset purchase programme.
The dollar moves higher in European trade Thursday, finding support from commentary suggesting the Fed will soon have to discuss tapering its massive bond-buying program, thus tightening monetary policy. However, the U.S. currency received some strenght late Wednesday when Randal Quarles, the Fed Vice Chairman , stated that the central bank will need to start discussing shortly plans to reduce its bond purchases if the economy continues to show massive improvement as it emerges from the pandemic.
The euro fell to $1.2170, declining for a second straight session after the European Central Bank's Executive Board’s Director, Panetta supported it was too early to taper its emergency bond buying programme.
Gold was down on Thursday morning in Asia after hitting a 4.5 high hit in the previous session as investors await key economic data in the U.S. to be released later in the day.
EU 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…
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