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: Sellers target 1.3800 even as UK unlock begins
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below 23.6% retracement area. Bearish pressure gains momentum day by day.
EU Market View
Asian equity markets eventually traded mostly lower as underperformance in tech sapped the early momentum from stimulus progress. European stock markets are seen opening mixed Monday, with investors fretting about higher U.S. Treasury yields even as hopes for a global economic recovery from the Covid-19 pandemic grow. Equity markets have been boosted over the last few months by the expectation that loose fiscal and monetary policy will give a powerful boost to the economic recovery, but optimism has been tempered by fears over rising inflation and interest rates.
U.S. Senate passed the $1.9 trillion stimulus package, proposed by President Joe Biden earlier this year, over the weekend. This raises the likelihood that this bill will be passed into law before enhanced jobless benefits expire on March 14.
GBP/USD holds lower ground near 1.3820. With 82 coronavirus (COVID-19) related deaths in Britain, the lowest since October 2020, Britain is confident of easing the virus-led activity restrictions.
Looking ahead, highlights from macroeconomic calendar include ECB asset purchase data, BoE's Bailey speech.
EU Key Point
- Germany January industrial production comes at -2.5% vs -0.4% m/m than expected.
- BOJ's Amamiya supports that BOJ able is to control long-term yields because of bond-buying operations.
- Germany reports 5,011 new coronavirus cases, 34 deaths in latest update today.
- US President Biden is keen to sign direct stimulus checks.
- Fed Chair Powell & FOMC colleagues are looking at a new set of labor market indicators.
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