Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD: The big picture remains bullish
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bearish pressure is growing during the last days.
EU Market View
Asia-Pac stocks head into the weekend mixed after the region partially shrugged off the early headwinds from the US. European stock markets are seen opening mixed Friday, as investors try to digest the competing influences of the European Central Bank retaining its ultra easy monetary policies and losses on Wall Street overnight. The ECB decided at its meeting on Thursday to leave its 1.85 trillion-euro ($2.23 trillion) bond-buying program in place, confirming that purchases will run at an elevated pace in the current quarter.
While this was expected, President Christine Lagarde also assured the market that pullbacks in this emergency program were not under discussion despite its prediction of a strong rebound in the euro zone economy from mid-year.
The dollar weakened in early European trading Friday, sticking to narrow ranges as traders turn their attention onto next week’s Federal Reserve meeting following the conclusion of the European Central Bank get-together
Looking ahead, highlights include UK retail sales, Eurozone, UK & US flash PMIs, CBR rate decision, ECB's Lagarde. Earnings from Daimler, Honeywell and American Express
EU Key Point
- European equities lower at the open today.
- Australia: Perth to enter three-day lockdown starting from midnight.
- UK March retail sales +5.4% vs +1.5% m/m expected.
- Germany reports 27,543 new coronavirus cases, 265 deaths in latest update today.
- BOJ Gov Kuroda says too early discuss timing, means of exit from ultra-easy policy.
- Coronavirus - New Zealand tightens border controls, will restrict arrivals from 4 high-risk nations.
- Japan finance minister Aso says discussing support policies for the upcoming State of Emergency.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.