Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD : more appreciation is ahead
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.
XAU/USD: Gold facing a further consolidation above 23.6% retracement area.
US Market View
European Union recovery funds to be transferred to Spain will boost economic growth by two percentage points annually in the coming years, Prime Minister Pedro Sanchez said on Tuesday.
The government will use the money to finance 110 major investment projects, Sanchez said, including nearly 3.2 billion euros in renewable energy.
U.S. stock index futures fell on Tuesday as U.S. federal health agencies recommended pausing the use of Johnson & Johnson single-dose COVID-19 vaccine, while investors awaited a reading on a key inflation report.
The call for pause in vaccine distribution comes after six recipients developed a rare disorder involving blood clots. J&J's shares shed 2.8% premarket, with the U.S. Centers for Disease Control and Prevention set to hold a meeting on Wednesday to review the cases.
USA Key Point
- The JPY is the strongest and the CAD is the weakest.
- US health agencies call for immediate pause of Johnson & Johnson vaccine.
- Germany April ZEW survey current situation -48.8 vs -54.1 expected.
- Dollar gains ease up on the session, all eyes still on US inflation data later.
- USD/JPY erases earlier gains, falls to session lows.
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.