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EUR/USD: faces further appreciation during 2021
Information is not investment advice
Ichimoku Kinko Hyo
CAD/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 is consolidating below 38.2% retracement area but price action remains weak.
EU Market View
Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals. US President-elect Biden is to seek a deal with Republicans on COVID-19 relief instead of attempting to push through legislation without their support, according to sources. Looking ahead, highlights from macroeconomic calendar include EZ industrial production, US CPI, ECB's Lagarde, Fed's Bullard, Brainard, Harker, Clarida speeches. The House will vote on asking Vice President Pence to remove D. Trump from the president’s office. A vote on impeachment is possible for Wednesday in the likely event of Pence refusing. Merkel warns Germany may need another 10 weeks of lockdown, while a raft of Fed speakers will flesh out thoughts of when the best moment to start tapering bond purchases may be.
EU Key Point
- Germany December wholesale price index comes at +0.6% vs +0.1% m/m prior
- BOJ reportedly considering downgrading view of economy amid state of emergency
- German health minister supports that It will not be possible to lift all restrictions in February
- Germany reports 19,600 new coronavirus cases, 1,060 deaths in latest update today
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
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