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I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
Don’t waste your time – keep track of how NFP affects the US dollar!
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Ichimoku Kinko Hyo
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand above 38.2%, there is a battle between bulls and bears that is taken place.
EU Market View
Asian equity markets eventually traded mostly positive as the region gradually broke free from the mundane tone from Wall Street. Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs. White House said US President Biden had a constructive and frank discussion with Republican Senator Capito and that they agreed to talk again on Friday.
A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on Friday, with investors looking for signs of an economic rebound and rising inflation. Philadelphia Fed Bank President Patrick Harker also restated his call that "it may be time to at least think about tapering our $120 billion in monthly Treasury bond and mortgage-backed securities purchases."
The Fed has already announced it would begin unwinding the corporate bond holdings it acquired last year to calm credit markets at the height of the pandemic. Adding to inflation fears, oil prices hit the highest level in 1-1/2 years led by a decision by major producing nations to restore supply only gradually while the slow pace of nuclear talks between the United States and Iran also helped. The U.S. Federal Reserve published its "Beige Book" report, which pointed to labour shortages and inflation pressures.
The dollar edged higher in early European trade Thursday, remaining near five-month lows, ahead of key economic data which could influence the Federal Reserve’s monetary policy thinking. The dollar has remained broadly offered for most of 2021 as traders have reacted to ultra-easy Federal Reserve policies, and the suggestions that these would stay in place for some time, as the world recovers from the Covid-19 pandemic. However, some traders have started to become nervous as a surprisingly strong U.S. economic rebound and growing inflation concerns pose a threat to this key assumption that interest rates stay low for a prolonged period.
Oil prices rose for a third day on Thursday on expectations of a surge in fuel demand later this year, particularly in the United States and Europe and China, at the same time major producers are maintaining supply discipline.
Looking ahead, highlights include EZ, UK and US Services and Composite Final PMIs, US ADP, IJC, ISM Services PMI, DoEs, ECB’s Elderson, BoE’s Bailey, Fed’s Bostic, Kaplan, Harker, Quarles speeches.
EU Key Point
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
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...
eurusd-is-falling-what-to-expect-from-the-future-price-movement
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
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