Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
European markets set for higher open following the Wall Street’s trend
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is now testing the lower level of the Kumo. A plunge of the market will push the exchange rate to exit the cloud, pushing GBP/JPY into lower ground.
European Market View
In Europe the industrial production for June is expected to be constrained by global supply issues despite strong demand. European markets set for higher open following the Wall Street’s trend.
In the Asia-Pacific stocks edged higher on Wednesday, again following the previous gains of U.S. major indices. Oil stocks in the region also increased due to higher oil prices.
In the United States some attention will be given to the Producer Price Inflation. If the actual result is greater than forecast is considered as good for the U.S. dollar.
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.