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NZD/USD : erases yesterday's advance, buyers lose near-term control
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold facing a further gains the last hours and trading near 23.6% full retracement area.
US Market View
Chinese stock markets fall as the central bank reportedly tells banks to lend less. U.S. stock markets are set to consolidate after Monday's reopening trades pushed them to all-time high closes. U.S. stocks are set to open lower later Tuesday, consolidating after a surge to record highs on Monday that was fueled by optimism over the outlook for reopening the economy. That rally was in part an extended effect of a blowout jobs report on Friday, which saw the U.S. economy add over 900,000 jobs in the month through mid-March.
The International Monetary Fund upgraded its global economic growth forecast for the second time in three months, while warning about widening inequality and a divergence between advanced and lesser-developed economies.
The global economy will expand 6% this year, up from the 5.5% pace estimated in January, the IMF said in its World Economic Outlook published on Tuesday. That would be the most in four decades of data, coming after a 3.3% contraction last year that was the worst peacetime decline since the Great Depression.
Much of the focus of this week’s meetings will be on the IMF’s proposed $650 billion issuance of reserve assets known as special drawing rights, which aims to boost global liquidity and help emerging and low-income nations deal with mounting debt and Covid-19 health-care costs.
The response to last year’s crisis by policy makers prevented a collapse that would have been at least three times worse, and the medium-term losses for the global economy are expected to be smaller than the global financial crisis a decade ago, the IMF said Tuesday.
USA Key Point
- EURUSD trades to highest level since March 24.
- IMF boost 2021 global growth estimate to 6.0% from 5.5% in January.
- Canada got the biggest growth boost in the IMF's latest GDP estimates.
- USDJPY retesting 200-hour MA.
- The USD is the strongest and the NZD is the weakest.
- AUD/USD falls to test key near-term levels as dollar gains further traction on the day.
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