Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Moment of truth for Gold
Information is not investment advice
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: continuous to stand below 23.6% retracement area. Bullish pressure is growing during the last hours.
EU Market View
Asian shares were mixed on Monday as investors awaited key U.S. inflation readings for guidance on monetary policy, while bitcoin tried to steady after being hammered on news of China's clampdown on mining and trading of cryptocurrencies. After surveys of the global service sectors out on Friday showed spectacular growth, all eyes will be on U.S. personal consumption and inflation figures this week. A high reading for the core inflation figures would ring alarms and could revive talk of an early tapering by the U.S. Federal Reserve. The diary has a crowd of Fed speakers this week, including the influential Fed Board Governor Lael Brainard, and markets will be keen to hear if they stick to the script on being patient with policy.
The dollar edged down in early European trade Monday, trading near three-month lows as confidence that the Federal Reserve was set to start tapering its bond-buying program in the near future ebbs away.
Group of Seven countries are close to reaching agreement on the corporate taxation of multinationals, clearing the way for a global deal later in the year, the Financial Times reported.After the United States agreed to accept a minimum rate of at least 15%, France, Germany and Italy said the new proposal was a good basis for sealing an international deal by July.
British employers called on Prime Minister Boris Johnson on Monday to overhaul regulation and tax rules to help them meet the challenges of Brexit, the post-pandemic recovery and preparing for a net-zero carbon economy.
The Confederation of British Industry (CBI) said 2021 should be a turning point for economic policy to break the pattern of weak productivity that has weighed on growth for more than a decade.
EU Key Point
- Johnson & Johnson applies for approval of COVID-19 vaccine use in Japan.
- It will be an empty day on the data docket in Europe.
- Germany reports 2,682 new coronavirus cases, 43 deaths in latest update today.
- Japan Chief Cabinet Secretary Kato says lifting, or extending, state of emergency under consideration.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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