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GBP/JPY : Risk off gains momentum
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold facing a further consolidation below 61.8% retracement area. Bulls have returned recently.
US Market View
The improvement in the U.S. labor market continued last week as the service sector in particular built on recent gains thanks to the relaxation of lockdown measures across the country. The number of people making initial claims for jobless benefits fell to 547,000 last week, their lowest since the start of the pandemic, from an upwardly-revised 586,000 the week before, the Labor Department said in a weekly release.
Crude oil prices traded higher Thursday, overturning early losses, helped by signs of a strengthening U.S. economy and following news of a drop in supply from OPEC-member Libya.Global stocks ground higher while oil ebbed on Thursday as investors diverged over whether to bet on economic recovery in the United States and other developed markets or worry about a surge in COVID-19 cases in India and elsewhere.With vaccination rates rising and pandemic-weary citizens embracing more freedoms to drive growth in some major economies, MSCI's broadest global gauge of stocks was up 0.3%, trading within 1% of its all-time closing high after a recent mini sell-off
The European Central Bank left policy unchanged as expected on Thursday, keeping copious stimulus flowing even as it faces questions over how it might claw back support once the pandemic-stricken euro zone economy reopens. The ECB is keeping borrowing costs pinned near record lows via massive bond purchases to see the 19-country currency bloc through a scarring recession that has kept schools, shops, restaurants and hotels closed for most of the last year. But growth is expected to rebound quickly from mid-year as COVID-19 infections are brought under control, the pace of vaccination picks up and restrictions are removed, raising questions about just how much ECB help is still needed.
USA Key Point
- GBPUSD pushed lower with the help of the EURGBP run higher.
- Lagarde: I don't know what the normal pace of PEPP is.
- Lagarde hints that fiscal side is a big difference between ECB and BOC.
- Message from Lagarde is that a 'firm' recovery is coming
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus