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Risk-on mood gains momentum before NFP
Information is not investment advice
Ichimoku Kinko Hyo
CAD/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 continuous to stand above 61.8% retracement area. Bears seems that losing control of the trend.
EU Market View
Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street. European stock markets are seen edging higher at the open Friday, amid optimism that the ongoing global vaccination program will restore the region’s economy - notably in the U.K. - and speed the earnings recovery. The euro zone has been hard hit by the second wave of the Covid-19 pandemic, with the region’s GDP falling by 0.7% in the final quarter of 2020 as governments introduced new restrictions and lockdowns to try to curb the virus. Later today the focus will be on the official U.S. employment report later in Friday’s session, with job growth expected to have rebounded in January as authorities began easing restrictions on businesses.
US House Speaker Pelosi has been asked by swing-district members to break up the COVID-19 relief bill. Looking ahead, highlights from macroeconomic calendar include US and Canadian labour market reports, BoE's Broadbent, Bailey ECB's Schnabel speeches.
EU Key Point
- Germany December factory orders comes at -1.9% vs -1.0% m/m than
- Germany reports 12,908 new coronavirus cases, 855 deaths in latest update today.
- UK press says the government is planning 'Vaccine passports' for tourists.
- Fed's George supports US economic progress is encouraging, will pick up further.
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