Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
NZD/USD to its Highest Level since March 2019
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAU/USD: Gold consolidates on the 23.6% retracement area the last day. There is an indecision between bulls and bears.
European Market View
Asian equity markets traded mostly higher as the region continued to benefit from the recent vaccine hopes. Looking ahead, highlights from macroeconomic calendar include OPEC Monthly Oil Report, ECB’s Lagarde, de Guindos, and Lane speeches.
Oil futures crept to new two-month highs on a sharp draw-down in supplies and anticipation of better demand in a post-pandemic world. Euro paused at $1.1820 ahead of a speech from European Central Bank president Christine Lagarde at 1300 GMT. The U.S. bond market is shut for Veterans Day but the yield on benchmark 10-year Treasuries posted its highest close since March on Tuesday at 0.9720%, leaving the spread with two-year notes the widest since February 2018.
EU Key Point
- Japan October preliminary machine tool orders come at -5.9% vs -15.0% y/y prior
- Germany reports 18,487 new coronavirus cases in latest update today
- Italy PM Conte reportedly says national lockdown cannot be the first choice
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?