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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.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus