Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD: consolidates above key pivot point area
Information is not investment advice
Ichimoku Kinko Hyo
CHF/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 faces a remarkable buying pressure after a significant breakout. Further upside move is most probably ahead.
EU Market View
A positive tone was observed in the Asia-Pac region and US equity futures recovered from the early stumble seen at the reopening. Italia Viva’s Renzi is pushing for Finance Minister Gualtieri to be replaced in discussions to forge a new coalition government led by PM Conte. This positive start to the European day comes despite two PMI releases from China showing economic activity slowed in January as restrictions took a toll in some regions.
Manufacturing PMI data is scheduled for release in Europe later Monday, and this should detail a similar loss in economic momentum for this region as coronavirus lockdowns bite. German retail sales slumped 9.6% on the month in December.
Looking ahead, highlights from the macroeconomic calendar include EZ, UK, US final manufacturing PMIs, US construction spending, ISM manufacturing, Fed's Bostic, Rosgengren speeches.
EU Key Point
- US bullion broker APMEX says surging silver demand prompts transaction delays.
- Silver closes in on $29 again to start European trading.
- Germany December retail sales comes at -9.6% vs -2.0% m/m than expected.
- US President Biden will meet with 10 Republican senators Monday package to discuss the COVID-19 relief.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.