Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD closer to 1.2000 area
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Seems that the bullish euphoria has passed away. Silver bulls stands above 61.8% retracement area.
EU Market View
Asian equity markets were mostly lower following a flat lead from the US where focus centered on earnings and stimulus plans. Stocks dipped on Thursday as a spike in short-term Chinese interest rates fanned worries about policy tightening in the world's second-largest economy, although improving corporate earnings and easing market volatility helped stem losses. Expectations of a large U.S. stimulus package underpinned risk assets as the Democratic-controlled Congress sought to pass President Joe Biden's $1.9 trillion COVID-19 relief package without Republican support. While it is unclear how much compromise the Democrats are willing to make with Republicans who are calling for a smaller package, many investors expect additional spending of at least $1 trillion. Looking ahead, highlights from macroeconomic calendar include Eurozone & UK construction PMI, BoE rate decision, factory orders, Fed's Kaplan, Daly speeches.
EU Key Point
- Gold under pressure as technical breakdown puts the spotlight on $1,800.
- Germany reports 14,211 new coronavirus cases, 786 deaths in the latest update today.
- Fuji News Network reports Japan could begin coronavirus vaccinations on February 17.
- Moody's says it expects a lower default rate in the Asia-Pacific region in 2021.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?