Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
UK Plans to Quit Brexit Talks if No Deal Seen by October 15
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAG/USD: Silver after a remarkable correction stands below 50% retracement area.
US Market View
U.S. stock markets are set to open with a bounce after the sharp reversal that followed Trump’s announcement late in the session on Monday. President Donald Trump abruptly called off talks with House Democrats on a fresh stimulus package, saying that the Democrats’ demands included too much money for what he called badly run state and city governments.
US Key Point
- EURUSD moves to new session highs
- More from Lagarde: Path of recovery remains a long, uncertain
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.