
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo
CAD/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 38.2% retracement area. There is an indecision between bulls and bears.
EU Market View
. European shares pulled back from record highs on Thursday, tracking overnight declines on Wall Street after the Federal Reserve surprised investors by indicating it could start tapering its massive stimulus sooner than expected. he dollar rose in early European trade Thursday, climbing to levels not seen for around two months after the Federal Reserve surprised markets with a hawkish turn, bringing forward its timetable for raising interest rates to 2023. The U.S. Federal Reserve concluded its latest two-day policy meeting on Wednesday, and surprised no one by maintaining the current levels of interest rates and monthly bond purchases. However, the jolt came when new projections saw 11 of 18 central bank policy makers plan for two interest rate increases of 25 basis points in 2023, a year earlier than expected, and a sharp change from the previous meeting when none of these officials were looking for hikes during that year.
With inflation soaring and the economy recovering quickly from the stresses brought about by the pandemic, the market had been expecting the Fed to discuss a timetable for reining in its massive bond-buying program. But this hawkish turn surprised. A more extreme reaction could lay ahead if signs appear of stronger-than-expected inflation and other factors that could push the Fed to taper faster than anticipated, some market participants said. Powell said policymakers are not facing a situation where they are "behind the curve."
It is still premature and unnecessary to discuss the end of the European Central Bank's emergency bond purchases, ECB chief economist Philip Lane said on Thursday, adding a lot of data is still missing before an important policy meeting in September.
Crude oil prices fell on Thursday as the U.S. dollar strengthened after the Federal Reserve signaled it might raise interest rates faster than expected, but losses were limited
EU Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
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