Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
NZDUSD : drops to a 3-month low
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.
Fibonacci Levels
XAG/USD: Silver continuous to disappoint and stands below 23.6% retracement area. Bearish pressure is growing.
EU Market View
Asian stocks reversed earlier gains on Tuesday, dragged down by declines in Chinese markets, which were jolted by a new round of sanctions, after ebbing inflation fears had helped shore up broader sentiment in the region. Investors now await a closely watched congressional appearance by U.S. Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen.
Europe is facing a difficult second quarter as coronavirus infections rise and governments reimpose lockdown measures, but the European Central Bank will do its part to keep borrowing costs ultra-low, ECB chief economist Philip Lane said on Tuesday.
Reports noted that US President Biden's economic advisers are preparing to present him with USD 3tln in new spending for the next phase of his economic agenda. Looking ahead, highlights from macroeconomic include UK labour market report, ECB gross purchases, US new home sales, NZ trade, BoJ minutes, BoE's Cunliffe, Bailey, Fed's Bullard, Bostic, Barkin, Powell, Williams, Brainard.
Britain's jobless rate unexpectedly fell to 5.0% in the three months to January, when the country entered a new COVID lockdown, official figures showed on Tuesday, below forecasts of a rise to 5.2% in a Reuters poll.
EU Key Point
- UK February jobless claims change comes at 86.5k vs -20.0k prior.
- NZD/USD falls to the day's lows as kiwi technical picture starts to erode.
- Germany reports 7,485 new coronavirus cases, 250 deaths in latest update today.
- China says will promote the use of a safe travel pass between China and Russia.
- Signs that North Korea is deploying multiple rocket launchers on a western border island.
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