
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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Ichimoku Kinko Hyo
USD/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
XAG/USD: Silver continuous to stand below the retracement area of 23.6% %. Bearish pressure is growing despite US dollar weakness.
EU Market View
Asia-Pac markets end the week with a cautious tone as regional bourses failed to sustain the early momentum from the tech-led gains in the US. European stock markets are seen trading in a mixed fashion at the open Friday, helped by further signs of a global economic recovery but concerns about the region’s Covid vaccination program remain. Earlier Friday, China reported that its March factory prices rose at their fastest annual pace since July 2018, climbing 4.4% year-on-year, far above February’s 1.7% growth.
Although China set a modest GDP growth target of above 6% for 2021 earlier in the year, many expect the Asian economic super power’s growth to exceed 8%. In Europe the economic news was less impressive, as Germany’s industrial production slumped 1.6% on the month in February, according to data released Friday, below the expected growth of 1.5%. German exports rose in February, boosted by surging trade with China in a fresh sign that factories are busy in Europe's largest economy despite an expected pandemic-related drop in overall output in the first quarter.
Oil prices edged up in early Asian trade on Friday, supported by a weaker dollar, as investors weighed rising supplies and the impact on fuel demand from the COVID-19 pandemic. Looking ahead, highlights include US PPI, Canadian labour market report, ECB's de Guindos, Fed's Kaplan speech.
EU Key Point
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
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