Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP/USD Trades to Highest Level since September 18
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAG/USD: Silver during the last hours is trying to move higher and continues to stand above 23.6% retracement area. Silver’s outlook remains bullish.
US Market View
President Trump has released a series of videos to reassure the public, and on Sunday took part in a motorcade to acknowledge his supporters who had gathered near the Walter Reed National Military Medical Center just outside Washington. US stock futures pushed higher, rebounding after Friday’s losses, as a lot of the political uncertainty stemming from President Trump’s Covid news dissipated. The number of Covid-19 cases now totals over 35 million worldwide, according to data from Johns Hopkins University, with many countries in the world now suffering from the second wave of infections.
US Key Point
- Ignore Trump, focus on stimulus talks
- EUR/USD trades to last week highs and backs off
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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?