
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver is trading below 23.6% retracement area. Bearish pressure is growing during the last days and it seems that bears have decided to send price lower.
EU Market View
Asian equity markets traded mixed following a similar indecisive performance in the US where the mood was tentative. Australia provided the latest piece of better-than-forecast economics on Wednesday, with growth beating market expectations and lifting national output above pre-pandemic levels.That helped the stock market to its latest record, but couldn't kick the currency out of its recent range as the central bank has been stubbornly sticking to its dovish tone.
Stocks chopped around record peaks on Tuesday, while the dollar was pinned near recent lows, as markets awaited U.S. jobs data and looked ahead to crucial central bank meetings in Europe and United States for guidance on the interest rates outlook. The dollar edged higher in early European trade Wednesday, climbing from a near five-month low, as traders digest the latest strong U.S. manufacturing data with regard to a potential prompt normalization of Federal Reserve monetary policy.
Oil prices rose on Wednesday after OPEC and its allies stuck to their plan to cautiously bring back oil supply to the markets in June and July while expecting a robust recovery in demand in the United States and China, the world's two biggest oil consumers. Saudi Energy Minister Prince Abdulaziz bin Salman's comments after the meeting buoyed the market. He said he saw a solid demand recovery in the United States and China and added that the pace of vaccine rollouts "can only lead to further rebalancing of the global oil market". OPEC Secretary General Mohammad Barkindo also played down any potential disruption to the market, saying the group expected any return of Iranian exports "will occur in an orderly and transparent fashion" if and when a nuclear deal is reached
A post-coronavirus pandemic world could offer an opportunity for Japanese firms to raise prices and help the central bank achieve its 2% inflation target, Bank of Japan board member Seiji Adachi said on Wednesday. But there was little the BOJ can do besides "patiently" sustaining its massive stimulus, Adachi said, offering the most candid comment to date by a BOJ policymaker on the central bank's dwindling ammunition to prop up growth and inflation.
Looking ahead, highlights include German Retail Sales, US Private Inventories, RBA’s Debelle, Bullock, ECB’s Elderson, Lagarde, Fed’s Harker, Evans, Bostic, Kaplan, Kashkari speeches.
EU Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
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