Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GOLD and SILVER Lose Strength
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAG/USD: Silver stands above the 23.6% retracement area. Indecision still exists.
US Market View
Wall Street's main indexes were on track to open higher on Friday, after a pullback in the previous session, with Oracle's solid quarterly results underscoring the resilience of tech-related companies during the coronavirus crisis. Still, many investors view the slump as a healthy consolidation after a stunning five-month rally in the S&P 500 that was powered by a narrow group of heavyweight tech names and scores of fiscal and monetary stimulus.
US Key Point
- USD/CAD turns higher as oil falls back below $37
- Inflation data tops the economic calendar as US winds down a wild week
- China reportedly takes unspecified countermeasures against US diplomats
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
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.