Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP/USD Steadily and Patiently Gains
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 is trading at 38.2% retracement area. Bulls have failed to stand above 50% retracement area.
EU Market View
Global shares stepped back on Wednesday as soft U.S. retail sales increase worries that rising coronavirus cases could stifle a still fragile economic recovery, dampening the euphoria from vaccine trial breakthroughs. Asian equity markets traded mostly higher as the region attempted to pick up from the weak handover from Wall Street. House Speaker Pelosi and Senate Minority Leader Schumer sent Senate Majority Leader McConnell a letter calling to start negotiations on COVID-19 relief this week. Looking ahead, highlights from macroeconomic calendar include UK, Eurozone(final) and Canadian CPI, US Housing Starts, DoEs, BoE’s Haldane, Fed’s Evans, Williams, Bullard & Kaplan speeches.
EU Key Point
- USD/JPY eases just below 104.00 as risk off gains ahead of European trading
- Tokyo reports record 493 new coronavirus cases
- Germany reports 17,561 new coronavirus cases in latest update today
- Bank of Japan Governor Kuroda won't be ending easing policy soon
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.