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Japanese Yen moves higher as risk off gains ground
Information is not investment advice
XAU/USD: Gold facing a further consolidation on 23.6% retracement area. The battle between bulls and bears keep going.
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
US Market View
U.S. stocks are seen opening lower Friday, handing back some recent gains as investors digest a flurry of earnings results, particularly from Amazon and Twitter ahead of some key inflation data.
After the close of trading Thursday, Amazon reported earnings and continued the example of peers like Facebook and Apple by posting record profits from pandemic shopping, sending its stock 2.4% higher premarket, to a new record high. The e-commerce giant also indicated sales would keep growing even as the U.S. economy reopened and customers ventured out to shops.
Fed Chairman Jerome Powell has repeatedly stated that the central bank would need to see inflation around 2% for a prolonged period before it decided to tighten its very accommodative monetary policies, but the release could still provide a valuable indication of how quickly prices are rising.
The economic news out of Europe was mixed, as the eurozone economy contracted 0.6% quarter-on-quarter in the first three months of the year, sliding into recession as widely expected. This was mainly caused by a 1.7% quarterly slump in its biggest economy Germany, though mitigated by 0.4% quarterly growth in second biggest France.
USA Key Point
- France said to extend COVID-19 vaccine shots to all adults from 15 June onwards.
- SNB's Jordan: Swiss franc remains highly valued.
- BOE to make tapering call in June.
- Dollar keeps steadier so far on the session, market tones a bit more mixed.
- Germany Q1 preliminary GDP -1.7% vs -1.5% q/q expected.
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