US Dollar consolidates after a massive short squeeze
Ichimoku Kinko Hyo EUR/JPY: The pair is trading below the cloud…
EUR/USD could attempt a move to 1.2000
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bearish pressure gains momentum.
EU Market View
Asian equity markets traded indecisively as the region took its cue from a similarly uninspiring lead from the US. Looking ahead, highlights from macroeconomic calendar include ECB minutes, US building permits, housing starts, Philadelphia Fed, Eurozone consumer confidence, BoE's Saunders, Fed's Brainard, Bostic, ECB's Schnabel speeches.
The dollar was up on Thursday morning in Asia following its first back-to-back gains in two weeks overnight. Positive U.S. data that continued to raise hopes that the country will see a faster economic recovery from COVID-19 than its global peers. Progress is also being made on the U.S.’ proposed $1.9 trillion stimuluss package, with President Joe Biden meeting labor leaders on Wednesday to canvass support. The Federal Reserve also released the minutes from its January policy meeting on Wednesday, reinforcing its to let the economy overheat while maintaining accommodative monetary policy.
Oil prices rallied again on Thursday to hit 13-month highs as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying. EUR/USD edges higher amid a retreat in the US Tr yields. Further upside appears difficult for now as markets are worried about the negative impact of coronavirus lockdown restrictions in Europe.
EU Key Point
- The reflation trade stays on hold ahead of European trading today.
- Oil price jumps, Brent to its highest in over a year.
- AUD/USD testing its overnight high after the jobs report.
Gerasimos Papagiannis
Similar
Is there a new trend ahead for USD?
The Federal Reserve kept the current policy as widely expected. However, the surprise came from the Dot Plot.
GBP/USD : sellers eye key support on break below 1.4000 after the FOMC
Ichimoku Kinko Hyo CAD/JPY: The pair is trading below the cloud…
Popular
Greatest sale of Japanese stocks
Nikkei 225 has sharply dropped after the hawkish surprise from the Federal Reserve.
US Dollar consolidates after a massive short squeeze
Ichimoku Kinko Hyo EUR/JPY: The pair is trading below the cloud…
Will the stocks of semiconductor producers rebound soon?
The amount of problems caused by the coronavirus pandemic is huge…
Choose your payment system
