
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo
CHF/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 23.6% retracement area. Bulls and bear are in a battle.
EU Market View
Asian equity markets were mostly negative, US equity futures extended on the losses seen during the prior session. European stock markets are seen opening sharply lower Wednesday, following the late selloff on Wall Street overnight amid uncertainties over inflation and future Federal Reserve policy. The major indices on Wall Street failed to hold onto early gains on the back of strong retail earnings Tuesday, suffering a sharp selloff into the close. All the major tech stocks ended in the red as investors feared holding these growth companies into the release of the minutes of the last Federal Reserve meeting. Stocks have been pressured of late on concerns. that growing inflationary pressures could force the U.S. central bank to rein in its ultra-easy monetary policies.
With this in mind, investors will study the fomc of the April Fed meeting, when they are released later Wednesday, for clues of when the central bank could consider cutting back its bond purchases, a move likely to precede increases in interest rates. The dollar edged marginally lower in early European trade Wednesday, remaining near multi-month lows ahead of the release of the eagerly-awaited minutes from the last U.S. Federal Reserve meeting.
Oil prices weakened Wednesday as investors digested the prospects of more supply entering the market following reports of progress in the talks between the United States and Iran to revive a deal limiting the Persian Gulf country’s nuclear program, which could lead to a lifting of sanctions on its crude exports.
British consumer price inflation rose to 1.5% in April from 0.7% in March, official figures showed on Wednesday, ahead of the expected rise of 1.4%. There was a more notable rise in U.K. producer price inflation, with input prices rising nearly 10% on the year.
Biden administration was said to be encouraged by the bipartisan infrastructure meeting. Looking ahead, highlights include UK inflation, EZ final CPI, Canadian CPI, FOMC Minutes, ECB’s Panetta, Rehn, Lane, Fed’s Bullard, Bostic speeches.
EU Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
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