Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Stocks are mostly lower today
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now trading between the Tenkan Sen and Kijun Sen levels. An upward wave would lead the currency pair above the Tenkan Sen, confirming the bullish sentiment.
European Market View
The German government expects the economic fallout this year from the coronavirus will be smaller than previously predicted.
Stocks are mostly lower today, with the real action in the markets again happening in the USD.
The U.S. currency extended losses at the start of the new month to trade at its lowest since May 2018.
Apple Inc. has asked suppliers to build at least 75 million 5G iPhones for later this year. The technology giant anticipates shipments of these next-generation iPhones may reach as high as 80 million units in 2020. Apple plans to launch four new models in October with fifth-generation wireless speeds, a different design and a wider choice of screen sizes.
AstraZeneca Plc has begun a large-scale human trial of its coronavirus vaccine in the U.S., with plans to enroll as many as 30,000 adults.
European Key Point
- The German government expects the economic fallout this year.
- Stocks are mostly lower today.
- The U.S. currency extended losses at the start of the new month.
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.
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.
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.