Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBPUSD : test the 200 hour moving average/50% retracement hurdle
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing a further consolidation on 23.6% retracement area. Bears have returned recently.
US Market View
U.S. stocks are seen opening moderately higher Wednesday, continuing to benefit from Fed Chair Powell's downplaying of the risk of an early move to tighter monetary policy. Fedspeak is on the menu again Wednesday, with FOMC members all slated to speak at events throughout the day.
These speakers will all attract the attention of the market after Federal Reserve Chair Jerome Powell testified Tuesday in front of U.S. lawmakers on Capitol Hill, playing down concerns about rising prices, maintaining his view that the country’s surging inflation would be transitory.
Additionally, New York Fed president John Williams, one of the more influential members of the Fed's rate-setting committee, stated that more progress is needed before the Fed begins to scale back its bond buying.
Hong Kong’s pro-democracy apple daily newspaper is set to close at the end of this week, after concerted pressure by the authorities on the paper and its owner Jimmy Lai. Some 500 Hong Kong police raided the paper's offices, the first case in which authorities have cited media articles as potentially violating a new national security law that drew intense criticism from the U.S. earlier this year. Crude oil prices pushed to multi-year highs, after strong demand in the U.S. market drained the country’s inventories.
USA Key Point
- Oil edges higher on report that OPEC+ ponders 500k bpd hike in August.
- EURUSD stays above 100 hour MA as dip finds buyers.
- Canada May prelim retail sales -3.2% vs -5.1% prior.
- US current account balance for the 1Q $-195.7 billion versus $-206.2 billion estimate.
- Canadian dollar hits a fresh session high ahead of retail sales data.
- The NZD is the strongest and the JPY is the weakest
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.