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...
US Dollar advances ahead of critical inflation figures.
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAG/USD: Silver continuous to stand on 38.2% retracement area. Bearish pressure is growing day by day.
EU Market View
Asian equity markets mostly shrugged off the subdued handover from Wall St peers but with gains capped ahead of this week’s risk events. Asian stocks markets were broadly positive Tuesday after China's exports grew at a strong pace during March and imports rebounded giving investors heart that domestic demand is improving as part of the recovery from the pandemic.
European stock markets are seen opening marginally lower Tuesday, weighed on by some patchy growth data out of the U.K. but generally cautious ahead of key U.S. inflation numbers.
U.K. GDP grew just 0.4% in March, below the expected 0.6%, and still down 7.8% on the year, marking a slow recovery from the ravages of the coronavirus pandemic. This followed robust trade data out of China, suggesting the recovery in the world's second largest economy will continue to gather momentum as it emerges from the Covid-19-led slump. Chinese exports grew 30.6% year-on-year in March, while import growth surged to the highest level in four years, jumping 38.1% year-on-year last month.
Federal Reserve officials have said repeatedly that they are prepared to look through periods of inflation climbing above its 2% threshold without changing their accommodative policy stance, as they see these episodes as being temporary in nature.
The dollar rose from near a three-week low against major rivals on Tuesday, buoyed by a bump in Treasury yields, as traders awaited the highly anticipated inflation data. Oil prices edged higher Tuesday, helped by the robust Chinese trade data, indicating continued economic recovery in the world’s largest crude importer, and tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.
Fed's Bullard said it is too early to talk about a change in monetary policy but later added that a 75% vaccination rate would allow for the taper debate. Looking ahead, highlights include UK GDP, German ZEW, US CPI, OPEC MOMR, Fed's George, Daly, Harker, Barkin, Bostic
EU Key Point
- BOJ's Kuroda says book value of BOJ ETF holdings is around ¥34-35 trillion.
- Germany March wholesale price index +1.7% vs +0.6% m/m expected.
- Treasury yields keep higher going into European trading.
- Germany reports 10,810 new coronavirus cases, 294 deaths in latest update today.
- Goldman Sachs updated forecast for USD/JPY is 103.
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