Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP/USD: now focuses on 1.4300 and beyond
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 continuous to stand between 50% and 61.8% retracement area. The battle between bulls and bears keeps going.
EU Market View
Asia Pacific stocks were down Wednesday morning, even as Treasury yields steadied and the U.S. Federal Reserve pledged continued support for the U.S. economic recovery from COVID-19. Fed Chairman Jerome Powell said during his testimony before the Senate Banking Committee on Tuesday that the economy remained “a long way” from employment and inflation goals and that rates would stay low and bond buying proceed apace until there was “substantial further progress”.
Looking ahead, highlights from macroeconomic calendar include US new home sales,BoE's Haldane, Bailey, Vlieghe, Haskel, Broadbent, Fed's Powell, Brainard, Clarida speeches.
Oil prices fell on Wednesday after industry data showed a deep freeze in the southern states curbed demand from refineries that were forced to shut. Gold was up on Wednesday morning in Asia, close to a one-week high reached during the previous session, due to a weaker US dollar and comments by U.S. Federal Reserve Chairman Jerome Powell that the U.S. economy is still on the road towards recovery from COVID-19.
EU Key Point
- UK restrictions could be lifted sooner than 21 June if vaccine data is better than anticipated.
- Pound holds higher after earlier spike.
- Germany reports 8,003 new coronavirus cases, 422 deaths in latest update today.
- Four Fed speakers on the agenda for today.
- The US House will vote on Biden's coronavirus economic stimulus bill on Friday.
- AstraZeneca tells EU it expects to deliver less than half the COVID-19 vaccines it was contracted to supply in Q2.
- GBP/USD now focuses on 1.4300 and beyond.
- Risk keeps more defensive ahead of European trading.
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?
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.
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.