GBP/USD Price Analysis: Sits near multi-month tops, around mid-1.4100s
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…
GBP/JPY: retreats from 14-month highs
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 50.0% retracement area. Bearish pressure is gaining momentum while bears lose patience.
EU Market View
Asian equity markets begin with a negative bias following a weak handover from Wall St, where the major indices declined as markets remained in consolidation mode and following disappointing jobless claim data. Looking ahead, highlights from macroeconomic calendar include UK retail sales, EZ, UK and US flash PMIs, Canadian retail sales, US existing home sales, BoE's Vlieghe, Fed's Barkin, Rosengren speeches.
The U.S. dollar paused on Friday after its biggest loss in 10 days as disappointing U.S. labour market data bruised optimism for a speedy recovery from the COVID-19 pandemic. The greenback continued to buck its traditional role as a safe-haven currency, falling with U.S. stocks overnight after an unexpected increase in weekly jobless claims. The British pound traded near an almost three-year high reached overnight, when it surged the most in more than a month, amid Britain's aggressive vaccination programme.
Oil prices move lower by up to 2% in early trade on Friday, adding to overnight weakness, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise.
EU Key Point
- Germany reports 9,113 new coronavirus cases, 508 deaths in latest update today.
- Japan's 10-year yield has hit its highest since November of 2018.
- Oil price drips lower still, seeing CAD weaken.
- US President Biden says again, must go big on COVID-19 relief package.
- Asian stock market eases from record top amid strong Treasury yields.
Gerasimos Papagiannis
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GBP/USD Price Analysis: Sits near multi-month tops, around mid-1.4100s
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…
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