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 GBP is the strongest and the NZD is the weakest
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver after a remarkable selling moves higher since nfp .
US Market View
Oil prices rose on Monday, driven higher by a disagreement inside OPEC+ about output policy that led to a third day of talks to try to break an impasse among producers in the group.
The dollar dipped against a basket of major currencies on Monday, after hitting a speed bump when last week's mixed bag of U.S. labour data allayed investor fears about a faster end to monetary stimulus. While the headline June job creation figure beat forecasts, unemployment ticked higher and workforce participation didn't budge - suggesting positive progress, but space for the Federal Reserve to wait before tapering asset buying or hiking rates. Bonds rallied, stocks rose and the dollar slipped in the wake of the data - dropping most against the risk-sensitive Australian and New Zealand dollars and the rates-sensitive yen.
Russia's economy has been recovering robustly in the past few months, a boon for authorities ahead of elections, but an abrupt surge in COVID-19 cases and the need to raise interst rates to combat inflation are challenging further growth. After shrinking 3% in 2020, its sharpest contraction in 11 years, the Russian economy was on the mend thanks to a rebound in consumer demand and high prices for oil, its key export, prompting a series of upgrades to its economic outlook. The central bank expects the economy to grow 3-4% this year, despite its three rate increases aimed at reining in stubbornly high inflation. But an expected fourth rate hike, to at least 6% in July, and prospects of even more expensive lending could take its toll on business activity.
Britain's financial watchdog on Monday proposed making it easier for tech companies to list in London to strengthen the capital's ability to compete with New York and the European Union following Brexit. The Financial Conduct Authority (FCA) has proposed allowing dual class share structures for "innovative, often founder-led companies" for the first five years of a listing on the London Stock Exchange's premium segment. Dual class share structures allow company founders to maintain control at the expense of ordinary shareholders and are popular in New York and Amsterdam, the EU's top share-trading centre.
USA Key Point
- USD/CAD a little higher to start the new week but sellers still keep near-term control.
- Oil stays relatively upbeat awaiting OPEC+ decision.
- Eurozone July Sentix investor confidence 29.8 vs 28.1 prior.
- UK June final services PMI 62.4 vs 61.7 prelim.
- Pound a little higher in light trading so far today.
- SNB total sight deposits w.e. 2 July CHF 712.1 bn vs CHF 712.5 bn prior.
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