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EUR/JPY : Risk keeps on the defensive ahead of European trading
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bullish pressure is growing during the last days.
EU Market View
Asian equity markets mostly slumped as the negative mood rolled over from the US where major indices extended on declines. The Dow slipped Tuesday, as rising global coronavirus cases triggered fresh jitters over global growth, prompting investors to hit pause on cyclical stocks. European stock markets are seen opening mixed Wednesday after suffering their worst daily loss so far this year on Tuesday, amid hopes that a positive corporate earnings season will calm concerns about the march of Covid-19 in India.
Looking ahead, highlights include UK and Canadian inflation, BoC rate decision, DoEs, BoE's Ramsden, Bailey speeches.
Oil prices fell for a second day on Wednesday on concerns that soaring COVID-19 cases in India will drive down fuel demand in the world's third biggest oil importer. India, also the world's third-largest oil user, on Tuesday reported its worst daily death toll from COVID-19 and is facing an oxygen supply crisis to treat patients. Large parts of the country are now under lockdown due to a huge second wave of the pandemic.
EU Key Point
- Major currencies little changed so far to start the session.
- Germany reports 24,884 new coronavirus cases, 331 deaths in latest update today.
- Australia Retail Sales for March, preliminary: +1.4% m/m (expected +1.0%).
- South Korea exports surging again in April.
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