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...
The big picture remains bearish for USD despite corrections
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold is trading strongly higher and achieves a full retracement.
US Market View
The Dollar Index fell to its lowest since May 2018, dropping below 90 as progress on a fiscal stimulus package and the promise of loose Federal Reserve policy for years to come encouraged moves into risk assets and alternative assets. U.S. stock markets are set to open higher as negotiators in Washington and Europe grind toward agreement on a U.S. fiscal stimulus package and an EU-U.K. post-Brexit free trade agreement. After a disappointing 1.1% drop in retail sales in November, the market will be looking to the release of data on jobless claims, housing starts and building permits for any further signs of economic weakness. Crude oil prices also hit their highest level since March, with the weak dollar and U.S. government stockpile data helping them to shrug off fears about the near-term demand trajectory.
USA Key Point
- ADP Canada Nov employment +40.8K vs -79.5K prior
- US Initial jobless claims 885K vs. 818K estimate
- US November housing starts 1547K vs 1535K expected
- The NZD is the strongest and the USD is the weakest
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