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EUR/USD: is it the time to touch 1.20?
Information is not investment advice
Ichimoku Kinko Hyo
USD/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 in the daily chart shows a significant weakness and bears still hold price below the key retracement resistance area of 23.6%.
EU Market View
Asian shares advanced on Thursday as market euphoria over COVID-19 vaccines and expectations a Biden administration would deliver more economic stimulus and political predictability overrode a slate of weak US economic data. In the currency market, the US dollar stayed under pressure as riskier currencies benefited from the increased optimism. In commodities, oil prices rose for a fifth day as a surprise drop in US crude inventories added to the positive mood stemming from hopes of demand recovery. Looking ahead, highlights from the macroeconomic announcement include the Riksbank policy announcement, ECB minutes, ECB's Lane & Schnabel, US Thanksgiving Holiday.
Minutes from Fed's last policy meeting showed policymakers consider giving markets a better steer on how long they will continue to buy bonds to support an economy under siege from new coronavirus infections.
EU Key Point
- Germany December GfK consumer confidence -6.7 vs -4.9 expected
- Germany reports 22 268 new coronavirus cases in the latest update today
- Italian top official calls for ECB to consider canceling the pandemic debt
- China Securities Journal says some stimulus exit very likely, but no rate hike soon
- China state media warn Biden of tensions and turbulence re Taiwan clarity
- South Korea daily confirmed coronavirus cases today above 500, for the first time since March
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