Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD : bulls return before key NFP number
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: After a remarkable sell off it seems that bulls return before NFP and send price above 23.6% retracement area.
EU Market View
Asian shares remain on the front-foot even as major bourses are off due to the Good Friday holiday. Although macro-economic details are sparse, the US Treasury yield’s weakness seems to favor traders to track Wall Street’s gains by the press time.
Crude prices swung from green to red and back on Thursday before settling up more than 2% as traders bought into OPEC+’s assurances that the global oil producing alliance could manage with higher output from May, despite questionable demand.Gold
prices staged a strong rebound from lows in the $1,680 area, regaining the $1,700 mark and above in past hours. Rising open interest amidst the positive price action opens the door to the continuation of the uptrend in the very near-term.
Tech stocks started the quarter in rally mode, continuing to their rebound from oversold levels, but the reprieve could prove short-lived as the recent rotation to value from growth still has room to go.
The U.S. dollar slipped from recent highs, with U.S. Treasury bond yields easing in parallel, after President Joe Biden flagged his intention to increase corporate tax to 28% over the medium term to help fund some $2.25 trillion of infrastructure spending plans.
EU Key Point
- Economic calendar due from Asia today, Friday 2 April 2021, is nearly empty.
- The USDJPY consolidates above and below unchanged.
- Crude oil moved sharply higher at $61.45.
- USDCAD moves into key swing area support.
- US Covid cases 64,149 vs 62,726 previously.
- France reports 50,659 new COVID cases.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
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?