Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EUR/USD : Bulls gain control once more above 1.22
Information is not investment advice
Ichimoku Kinko Hyo
ΑUD/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
XAU/USD: Gold continuous to stand above 23.6% retracement area. Bullish pressure is growing during the last days and it seems that bulls have decided to send price higher.
US Market View
U.S. stocks are seen opening lower Thursday, on course for the fourth straight day of losses amid worries about future Federal Reserve policy as well as volatility in the cryptocurrency prices. Investors have been digesting the minutes from the April Federal Reserve meeting which suggested that some FOMC members were considering voting for tapering the central bank’s asset purchase programs in upcoming meetings. U.S. stock index futures fell for the fourth session on Thursday following signs the Federal Reserve policymakers discussed tapering of bond purchases last month, while investors looked to weekly jobless claims numbers.
Worries that the Fed may begin to rein in its ultra-easy monetary policies fairly promptly because of resurgent inflation have weighed on the stock market of late. The Nasdaq Composite, which is dominated by high-growth tech stocks, is down almost 5% in May so far. It’s also on course for its fifth consecutive down week, a run that hasn’t been seen since October/November of 2012.
Investors will also keep an eye on the weekly jobless claims to gauge the pace of labor-market recovery. New claims for unemployment benefits are expected to total 450,000, a new post-pandemic low, a drop from last week’s 473,000.
Oil prices weakened Thursday as traders digested the prospect of more supply entering the market. This follows Iranian President Hasan Rouhani claiming that a framework agreement had been reached on restoring the 2015 UN-backed deal limiting its nuclear programs, which would allow his country to restart exporting crude.
US Key Point
- ECB's Lane: Supply bottlenecks causing price rise is not real inflation.
- BOE's Cunliffe: UK house price strength during the recession is 'striking’.
- Risk still a little wobbly so far on the day.
- Dollar on the backfoot to start the session.
- USD/JPY keeps the red near session lows, below 109.00 mark ahead of US data.
- GBP/USD: Virus variants concerns to hobble sterling.
- NZD/USD clings to modest recovery gains, trades below 0.7200.
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