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EUR/USD : remains under pressure and breach 1.2000

EUR/USD : remains under pressure and breach 1.2000

Information is not investment advice

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Ichimoku Kinko Hyo

NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.

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Fibonacci Levels

 XAU/USD: Gold facing a further weakness the last hours and trading below 23.6% retracement area. Bulls still struggling to keep price higher.

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US Market View

US stock markets traded mixed Tuesday, with investors digesting a fresh warning about the coronavirus as well as an abundance of corporate news. The number of new coronavirus infections globally rose last week for the first time in seven weeks, the World Health Organization said on Monday. German retail sales fell sharply in January, dropping 4.5% on the month, showing the continued impact of these restrictions on Europe’s largest economy.

Global equity markets posted hefty gains on Monday, helped by positive news about another Covid-19 vaccine as well as progress in the U.S. $1.9 trillion stimulus bill. 

Investors continue to debate whether many markets are over-extended following huge stimulus injections to counter the impact of the pandemic. The prospect of faster inflation as the world economy recovers has led to concerns that monetary policy may have to be tightened sooner than expected.  Oil prices weakened Tuesday, as traders turned their attention towards the upcoming meeting of the Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, on Thursday.

USA Key Point

  • Germany reportedly set to extend lockdown until 28 March.
  • The bond market is keeping calmer so far on the day.
  • Germany February unemployment change +9.0k vs -10.0k expected.
  • Gold continues gradual descend towards $1,700 as the downtrend stays the course.
  • EUR/USD sits on the edge as the dollar holds firmer to start the session.
  • ECB's de Guindos supports that If yields rise has negative impact on financing conditions, we are open to recalibrate.
  • USD/JPY sits near multi-month tops.
  • Fed speakers coming up later today.
  • EU says it is confident it can vaccinate 70% of adult population by summer.
  • Oil steadies after earlier drop, OPEC remains in focus.

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Gold isn't saving investors from inflation

Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?

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