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EUR/USD: Entering a consolidation period
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAG/USD: Silver continuous to stand above 38.2% retracement area. There is indecision between bulls and bears.
EU Market View
Asian equity markets were subdued in holiday-thinned trade and following a mixed lead from Wall Street. Britain's coronavirus-ravaged economy shrank 9.9% in 2020, the biggest annual fall in output since modern records began but avoided heading back towards recession in the final quarter of the year, official figures showed on Friday. The dollar headed for its first losing week in three as new signs of weakness in the U.S. jobs market dented investor expectations about the pace of economic recovery from the pandemic. The dollar remained on the back foot on Friday in Asia, pinned near two-week lows, after the release of weaker-than-expected weekly U.S. jobless claims data the previous day.
Looking ahead, highlights from macroeconomic calendar include UK GDP, Uni. of Michigan, Fed's Williams speech.
EU Key Point
- UK PM Johnson to make statement on 22 February on plan to exit lockdown.
- UK December monthly GDP comes at +1.2% vs +1.0% m/m than expected.
- Germany reports 9,860 new coronavirus cases, 556 deaths in the latest update today.
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Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus