Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
President Trump Returns to the White House
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming bullish momentum.
Fibonacci Levels
XAU/USD: Gold stands above 23.6% retracement area and seems that gains steadily.
EU Market View
Asian equity markets traded positively following the firm handover from global peers as markets track stimulus developments and US President Trump’s health. White House Chief of Staff Meadows noted there is potential for a stimulus package, although doubts over Senate approval remain. US President Trump is planning to participate in the next Presidential Debate scheduled for October 15th
RBA maintained the Cash Rate Target and 3yr yield target at 0.25%, as expected and reiterated forward guidance .Looking ahead, highlights from macroeconomic calendar include EZ & UK construction PMIs, EIA STEO, ECB's Lagarde, Lane, Fed Chair Powell, Harker, Bostic, Kaplan speeches.
EU Key Point
- Germany August factory orders come at +4.5% vs +2.8% m/m than expected
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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