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NZD/USD : extends gains to fresh three-week high.
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing a further consolidation below 38.2% retracement area.
US Market View
U.S. stocks are seen drifting Wednesday, with investors cautious as the new earnings season starts in earnest, starting with the banking sector.
British Prime Minister Boris Johnson said on Wednesday he shared concerns over a growing lobbying scandal involving former leader David Cameron who tried to get ministers to help out the now failed supply-chain finance firm Greensill Capital.
Though Cameron's strategy ultimately failed, Johnson has launched an independent review to look at allegations that lobbyists have an "open door" to his government. The economic data slate includes March import prives, which will be of extra interest after CPIrose 0.6% on Tuesday, the largest gain since August 2012, while the Fed's Beige Book is expected to showcase improving economic conditions around the country.
There are also a number of Fed speakers due to discuss the economic outlook on Wednesday, including Chairman Powell, who is set to speak at an Economic Club of Washington. The greenback's fall came as U.S. bond yields dipped, thus reducing the currency's yield attraction, as solid demand for a 30-year bond auction trumped rises in consumer inflation
Oil prices pushed higher Wednesday, helped by the International Energy Agency joining OPEC in raising its forecasts for global oil demand this year, by an average of 230,000 barrels a day from its March forecasts.
USA Key Point
- US March import price index +1.2% m/m vs +0.9% expected
- The NZD is the strongest and the CHF is the weakest
- Pfizer vaccine supply to EU in Q2 to receive 25% boost to 250 million doses
- Goldman Sachs joins in with another earnings beat
- EU reveals strategy to raise €800 billion in debt for recovery fund, to be repaid by 2058
- Treasury yields hold slight bounce after yesterday's retreat
- ECB's de Guindos: Risks of withdrawing stimulus too early are higher than risks of keeping them in place
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