I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
EUR/USD : moves higher before critical ECB meeting
Information is not investment advice
XAU/USD: Gold facing a further consolidation above 23.6% retracement area. Bulls have returned before inflation data.
Ichimoku Kinko Hyo
CHF/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
US Market View
Government, news and social media websites across the globe were coming back online Tuesday after being hit by a widespread outage linked to U.S.-based cloud company Fastly. Japan's government will stick for the moment to its goal of achieving a primary balance surplus by fiscal year 2025, but reassess the timeframe due to the economic damage caused by COVID-19, the government's draft fiscal blueprint shows. The draft, seen by Reuters, underscores the government's commitment to fixing Japan's tattered finances. Its wording could change, however, after vetting by ruling party lawmakers, some of whom want the timeframe dropped for a second year running as the costs of combating the pandemic accumulate.
Oil prices extended losses on Tuesday on profit taking and a stronger U.S. dollar, but overall optimism about recovering demand kept a floor under prices. As oil is priced in dollars, a stronger greenback makes crude more expensive for buyers with other currencies. Data showing China's crude imports were down 14.6% in May on a yearly basis also weighed on prices.
Markets were in their comfort zone on Tuesday, with world stocks hovering just off record highs, the dollar lifted by upcoming inflation data and the main volatility gauges all looking reassuringly calm.There was some pressure on sterling as the British government considered whether to delay removing most of its remaining coronavirus restrictions and oil was in the doldrums, but both looked like being temporary at worst.
USA Key Point
- US trade balance for April -$69.9B vs -$69.7B estimate.
- Canada April international merchandise trade balance +$0.59B vs -$0.70B expected.
- The CHF is the strongest and the NZD is the weakest as NA trader enter for the day.
- Eurozone Q1 final GDP -0.3% vs -0.6% q/q second estimat
- Germany June ZEW survey current situation -9.1 vs -28.0 expected.
- Oil sits lower on the day after first test of $70 falls short
- Dollar slightly firmer to start the day as the back and forth continues.
- Germany April industrial production -1.0% vs +0.4% m/m expected.
- Japan May economy watchers survey current situation 38.1 vs 34.0 expected.
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