Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP/USD : Can sterling surge above 1.40?
Information is not investment advice
Ichimoku Kinko Hyo
CHF/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
XAU/USD: Gold facing a further weakness the last hours and trading near a full retracement area. Gold continues to flirt with session lows and disappoints once more many buyers.
US Market View
U.S. stocks are seen opening higher Wednesday, amid growing optimism that the country’s increase in vaccination program will lead a prompt and strong economic recovery. President Biden announced late Tuesday that the U.S. will have sufficient Covid-19 vaccines to vaccinate every adult by the end of May, two months ahead of schedule. This comes with President Joe Biden’s $1.9 trillion Covid relief bill now in the Senate, after having passed through the House of Representatives.
All eyes in USA remain in inflation numbers. The key supporting factors to US inflation in 2021 include the higher growth of personal consumption, capital spending, housing, and inventory builds of which these sectors had been the main contributors to the US’ recovery process last year. The US savings rate is expected to normalize as US consumers resume their social and travel activities and increase spending. If the consumer spending surge is formidable, then so will be the inflation risk.
UK Chancellor of the Exchequer Rishi Sunak is set to extend the government's successful furlough scheme through September, in a step that would boost the British economy. However, corporation tax rises remain a mystery. So far, GBP/USD has been able to advance thanks to some calm in markets.
Gold has sold off to the 55-month moving average at $1706 and currently we cannot rule out further slippage towards the $1650.
USA Key Point
- UK's Sunak expects economy to return to pre-COVID levels in the middle of next year.
- Dollar steady, yields higher.
- Dollar creeps a little higher ahead of North American trading.
- Bundesbank's Weidmann supports that German economy strong enough to cope with longer lockdowns.
- ECB reportedly said to see no need for drastic action to combat rising bond yields.
- Japanese government set to extend Tokyo state of emergency until 21 March.
- Germany February final services PMI comes at 45.7 vs 45.9 expected.
- Tokyo Olympics reportedly plans to not allow overseas spectators.
- UK finance minister Sunak to announce the budget later today.
- XAU/USD flirts with session lows.
- USD/JPY hits 107.00 mark for the first time since August 2020.
- AUD/USD eases from daily tops, holds above 0.7800 ahead of US data.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
Will USDJPY slide lower in 2023?
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
BoC Rates Could Alter The Trend on USDCAD and others
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
MSFT faces gloomy forecasts ahead of earnings report
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Choose your payment system
