Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EUR/GBP : Target remains significantly higher for euro
Information is not investment advice
Ichimoku Kinko Hyo
USD/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 facing a further consolidation below 38.2% retracement area. Bulls have returned recently.
US Market View
European stock markets edged lower Friday, ending the week on a negative tone as investors study a slew of corporate earnings, particularly from Daimler, and economic data releases. European markets suffered a negative handover from Wall Street, with the major U.S. indices all dropping around 0.9% late Thursday, their biggest slide in five weeks, on reports that Biden is set to propose almost doubling capital-gains tax for the wealthy.
That said, losses are small, helped by signs of an improving economic picture in Europe as a whole. French and German manufacturing PMI numbers came in better than expected, well above the 50 expansion threshold, while U.K. retail sales jumped 5.4% on the month in March, climbing 7.2% on the year, way ahead of expectations.
European Central Bank President Christine Lagarde assured the market on Thursday that pullbacks in the central bank’s emergency program were not under discussion despite its prediction of a strong rebound in the euro zone economy from mid-year.
The dollar weakened in early European trading Friday, sticking to narrow ranges as traders turn their attention onto next week’s Federal Reserve meeting following the conclusion of the European Central Bank get-together.
USA Key Point
- Dollar holds slightly softer on the session, US futures a touch higher.
- ECB and other major central banks to discontinue 84-day US dollar liquidity operations.
- US futures pare slight advance to start the session.
- UK March retail sales +5.4% vs +1.5% m/m expected.
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…
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?