I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
GBP/USD : is ripping to its highest since April of 2018
Information is not investment advice
Ichimoku Kinko Hyo
EUR/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: Silver stands above 23.6% retracement area. Bullish pressure is growing during the last hours.
EU Market View
Asian equity markets traded mixed after lacking direction from the US and ahead of upcoming key risk events. Asian equity markets hit a one-month peak on Tuesday, buoyed by the global stock rally, while gold flirted with five-month highs ahead of European and U.S. data this week that will likely offer clues on the health of the world economy. The world's recovery from the COVID-19 pandemic remains patchy with exports reviving but broader economic activity still dampened by new measures to contain fresh outbreaks.
The dollar weakened in early European trade Tuesday, slipping to multi-month lows against many of its peers, as traders look to the release of closely-watched NFP data later in the week for clues surrounding the Federal Reserve’s policy thinking. Fed officials have repeatedly stated that they expect price pressures to be transitory and monetary stimulus to stay in place for some time, especially as the labor market, while improving, remains far below the levels of employment seen before the start of the pandemic.Vice Chair Quarles and Governor Brainard will both be speaking at separate events later Tuesday, but it’s the nonfarm payrolls numbers on Friday which will attract the most attention this week, especially after the much weaker than expected rNFP a month ago.
Gold added to its biggest monthly gain since July as the dollar weakened and investors awaited fresh data on the U.S. economy to feed the debate about inflation. Bullion wiped out losses earlier this year with a 7.8% rise over May amid signs of accelerating inflation. Fresh virus outbreaks and patchy economic data have also boosted gold, which is again drawing investors via exchange-traded funds -- a major driver of last year’s rally.
Oil prices rose on Tuesday, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer.
Looking ahead, highlights include EZ, UK, US Final Manufacturing PMI, EZ Flash CPI, US ISM Manufacturing PMI, Fed’s Quarles, Brainard, BoE’s Bailey speeches and JMMC/OPEC+ meetings
EU Key Point
- UK Nationwide house prices +1.8% vs +0.8% m/m expected.
- BOE's Ramsden: There is a risk that demand gets ahead of supply.
- RBA leaves cash rate unchanged at 0.10% in June monetary policy decision.
- Germany reports 1,785 new coronavirus cases, 153 deaths in latest update today.
- Switzerland Q1 GDP -0.5% vs -0.4% q/q expected.
- China data - Caixin manufacturing PMI for May 52.0 (vs. expected 52.0).
- AUD/USD continues its move higher - iron ore in China is up on the steel news.
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...
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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