Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD : Bullish trend gains further momentum and targets 1.21 area
Information is not investment advice
Ichimoku Kinko Hyo
CAD/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 38.2% retracement area. Bulls have returned recently but the effort remains weak.
EU Market View
Asian equity markets were cautious after the choppy performance stateside; Mainland China underperformed. European stock markets are seen opening largely higher Thursday, helped by a generally positive start to the earnings season on Wall Street. The first-quarter U.S. earnings season started in earnest on Wednesday, with the banking sector, often seen as a proxy for the health of the wider economy. Oil prices drifted Thursday, consolidating near one-month highs after Wednesday’s strong gains as U.S. stockpiles data added to signs the demand outlook is improving. The dollar traded largely flat in Europe Thursday, remaining near four-week lows with traders seemingly buying into the idea that the Federal Reserve will keep interest rates at rock bottom levels for some time.
Looking ahead, highlights include US IJC, Philadelphia Fed, Retail Sales & New Zealand Manufacturing PMI, CBRT rate decision, Fed's Bostic, Daly, Mester & Logan.
EU Key Point
- Tokyo governor Koike says may consider state of emergency if can't slow virus spread.
- BOJ cuts economic assessment for 2 of 9 Japanese regions in April.
- Germany reports 29,426 new coronavirus cases, 293 deaths in latest update today.
- Senior Japanese ruling party official says cancelling this year's Olympic Games is an option.
- Taiwan's President says Chinese military activities threaten regional peace, stability.
- USD a little higher across the major FX board after earlier dip.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
Best Instruments to Trade This Week
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.
European Currencies Ahead of the Banks' Statements
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.
Will the FOMC Surprise the Markets?
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.
Choose your payment system
