Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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.
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.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.