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 on remains strong but losses strength before FOMC
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.
XAU/USD: Gold facing a further consolidation on 50% retracement area. Bulls have returned recently.
US Market View
The Nasdaq was set to hit a new high at the open on Wednesday as falling Treasury yields lifted tech-heavy growth stocks, while investors focused on the Federal Reserve's minutes from the June meeting to gauge the trajectory of policy support going forward. China will use timely cuts in the bank reserve requirement ratio (RRR) to support the real economy, especially small firms, the cabinet said on Wednesday.
The People's Bank of China (PBOC) has been gradually scaling back pandemic-driven stimulus to curb debt risks, keeping borrowing costs low and telling banks to maintain support for small firms.
The furious rally in Treasuries has rekindled a decades-old relationship between stocks and bonds that’s at the heart of basic diversification strategies used by countless investors. An unwinding of bets by some hedge funds against 10-year U.S. Treasuries, the world's safest asset, explains the sudden ructions in bond markets, traders and fund managers told Reuters on Wednesday.
The 20-day correlation between futures for the S&P500 and Treasuries turned negative for the first time since February, according to data compiled by Bloomberg. While longer-term measures remain positive, it signals a reversal in the recent trend.
The two assets have been increasingly moving in lockstep in past few months, and the link between them jumped to a 2005 high earlier this year. It all stirred anxiety that bonds would fail in their traditional role of protecting portfolios from stock declines.
he euro zone economy will grow faster than previously thought both this year and next, the European Commission said on Wednesday, despite emerging concerns the fast-spreading Delta variant of the coronavirus could lead to new restrictions.
The European Union's executive arm also expected higher inflation this year for the 19-nation currency bloc than previously forecast, but estimated consumer prices growth would slow next year.
The EU Commission predicted the euro zone will grow by 4.8% this year, much faster than the 4.3% expansion it had forecast in May.
USA Key Point
- US stocks set for a small gain at the open.
- IMF's Georgieva: There is risk of more sustained rise in inflation, which could require sooner policy tightening.
- US MBA mortgage applications w.e. 2 July -1.8% vs -6.9% prior.
- Japan reportedly preparing to declare state of emergency in Tokyo.
- European Commission raises 2021 GDP growth forecast from 4.3% to 4.8%.
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