Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP : resumes downtrend in fall to lowest level in a little over a year
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing a further weakness the last hours and trading near a full retracement area. Strong US dollar does not help gold.
US Market View
U.S. stocks are set to open lower, amid uncertainty over the extent of liquidations stemming from the Archegos margin calls. Concerns about the ongoing problems of much of the world in bringing the Covid-19 pandemic under control are also weighing. Europe’s latest wave continues to build, with France approaching capacity in its intensive care units and German Chancellor Merkel threatening to invoke emergency federal powers to enforce stricter lockdowns in Europe’s largest economy.
Two banks warned of significant losses from exposure to a single hedge fund, whose default on margin calls triggered Friday’s multi-billion-dollar firesale of stocks in New York. President Joe Biden prepares to lay out his green spending plans, but other plans on healthcare and childcare will have to wait until April. The pandemic roars back in Europe, South America and the Indian sub-continent, and oil prices fell after the ship blocking the Suez Canal was partially freed from the canal's walls. Here's what you need to know in financial markets on Monday, March 29th.
USA Key Point
- The GBP is the strongest and the EUR is the weakest.
- Italy set to cut economic growth projections for the year.
- Russia reportedly supports rollover of OPEC+ oil production to May.
- European equities are trading slightly higher.
- USD/CHF clings to small daily gains around 0.9400.
- USD/JPY: Break below 109.35 to add bearish pressure.
- Italy to cut 2021 GDP growth forecast to 4.1% from 6.0%.
- NZD/USD rebounds to 0.7000 area in choppy session.
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.