
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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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
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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.
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