I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
Risk aversion stays the course so far on the session and before ECB
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAG/USD: Silver facing a significant weakness and it is trading near above 50% retracement area.
US Market View
U.S. stock markets and bond yields are set to open sharply lower as investors unwind previous bets on strong growth and relatively high inflation continuing into the medium term. The delayed 2020 Summer Olympic Games will take place without spectators, after Prime Minister Yoshihide Suga declared emergency for the prefecture of Tokyo due to rising cases of Covid-19.The decision had been widely expected, as new infections in the Tokyo prefecture have been rising for nearly a month and hit their highest level since mid-May on Wednesday. Japan has been slow to vaccinate its population so far, with barely a quarter of the population receiving even one jab.
The European Central Bank set a new inflation target on Thursday and claimed a role in fighting climate change after a strategy review that marks the biggest overhaul to date of Europe's most powerful financial institution. The central bank for the 19 countries that use the euro currency has picked up an array of roles over the years, from bank supervision to payment infrastructure, especially in the wake of the bloc's debt crisis a decade ago.
Its first strategy review since 2003 was long overdue and ECB chief Christine Lagarde made it a key priority when she took over from Mario Draghi in late 2019. The project had been scheduled to take a year but was stretched to 18 months as policymakers focused on responding to the COVID-19 pandemic. In a decision flagged by policymakers, the ECB set its inflation target at 2% in the medium term, ditching a previous formulation for "below but close to 2%," which had created the impression it worried more about price growth above the target than below it.
U.S. claims are expected to have fallen to a new post-pandemic low of 350,000, from 364,000 last week. The numbers are due for release at 8:30 AM ET. They come a day after the Labor Department’s monthly for May showed that layoffs had already reached a record low as a newly-reopened service sector scrambled for workers.
USA Key Point
- ECB sets inflation target at 2% after strategy review.
- Treasury yields fall further as the unrelenting bid in bonds continue.
- BOJ reportedly expected to cut growth forecast for the year as virus restrictions dampen outlook.
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