Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD bulls target again 1.24 area
Information is not investment advice
Ichimoku Kinko Hyo
NZD/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 after a remarkable sell off is trading above 23.6% retracement area. Trend remains weak.
US Market View
U.S. stocks are set to reopen higher after the Martin Luther King Day holiday on Monday, with Yellen’s remarks a welcome reminder of the momentum behind economic stimulus measures. Janet Yellen, the former head of the Federal Reserve who is now Joe Biden’s nominee for Treasury Secretary, will have her confirmation hearing before the Senate Finance Committee. Yellen’s first task will be to persuade Congress to pass Biden’s $1.9 trillion spending package to lighten the burden of the pandemic on cash-strapped households and businesses.
The surge in Covid-19 at the end of 2020 appears to be receding. Hospital admissions tied to the virus fell for the sixth straight day in the U.S. to their lowest since the start of the year, although some distortions due to holiday-induced late reporting are possible.
USA Key Point
- EURUSD retraces and moves above some technical levels on the way
- The EUR is the strongest and the JPY is the weakest
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.
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.
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.