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 JPY is the strongest and the AUD is the weakest.
Information is not investment advice
XAU/USD: Gold facing a further consolidation above 23.6% retracement area. Bulls have returned before NFP.
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
US Market View
Germany's annual consumer price inflation eased in June, but remained above the European Central Bank's target of close to but below 2%, the Federal Statistics Office said on Tuesday. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.1% in June, down from 2.4% in May. The debate about when to rein in its massive bond-buying program is starting to get heated in the European Central Bank, judging by comments this week by some of the central bank’s policymakers.Germany's Jens Weidmann openly discussed on Monday the winding down of the ECB’s 1.85 trillion euro Pandemic Emergency Purchase Programme.
U.S. stocks are seen opening mixed Tuesday, with the nasdaq handing back gains after closing at record levels, ahead of potentially significant labor market data later in the week. Facebook joined the $1 trillion club on Monday, boosted by the news that a U.S. judge dismissed the Federal Trade Commission’s antitrust case against the social media giant.
Central banks and governments were quick to buttress the world economy as the Covid-19 pandemic erupted. The bigger challenge will be weaning it off the unprecedented support they’ve deployed, according to the Bank for International Settlements. As economies rebound, officials will need to enact more targeted fiscal measures to preserve policy space, the Basel-based institution said in a report released Tuesday and entitled “Central Banks Facing Pandexit Challenges.” In light of the pick-up in consumer price pressures -- which are probably temporary -- policy makers will also need to strike a balance between reassuring markets they’re willing to support growth and showing they’re prepared to fight inflation.
New U.K. Health Secretary Sajid Javid has his hands full. Appointed over the weekend after the hasty departure of predecessor Matt Hancock, he was greeted by the news that the country reported over 22,000 new Covid-19 cases on Monday, the highest level since late January. Cases have risen steadily since the end of May, with the seven-day average going from around 3,500 to over 16,000. The highly-contagious delta variant makes up the vast majority of these new cases, and this is resulting in the U.K. becoming more isolated. Hong Kong will ban all passenger flights from that part of the world from Thursday, its government announced Monday, while Spain has Tuesday taken U.K. visitors off its list for restriction-free travel.
USA Key Point
- US consumer confidence and housing data coming u
- Dollar continues to keep firmer to start the wee
- USD/CAD inches back towards key technical level.
- Japan reportedly likely to appoint international policy veteran as next top currency official.
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