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 on higher yields. How long will it last ?
Information is not investment advice
Ichimoku Kinko Hyo
CAD/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 bears return for another time and send price significantly lower on the key retracement area of 23.6%.
EU Market View
Asian equity markets mostly took impetus from the gains on Wall Street where the S&P 500 and the DJIA notched fresh record highs, Nasdaq outperformed. European stock markets are seen opening mixed Friday, as traders digest a positive lead from Wall Street but also fresh Covid worries and weak U.K. growth data. Europe received a positive handover from Wall Street, and then Asia, after President Joe Biden signed his landmark $1.9 trillion covid package into law and held out the prospect of a return to normal life by the July 4 Independence Day holiday. While the U.K. and U.S. press ahead with their vaccination rollouts, the EU is struggling to give its population shots and infection rates are rising again in big countries such as Germany and Italy, as well as much of central Europe. France reported over 30,000 new coronavirus infections on Wednesday, for the first time in two weeks, prompting the country’s health minister, Olivier Veran, to warn that the Covid-19 situation in greater Paris was worrying.
Oil prices slipped Friday but remained at elevated levels amid confidence about demand recovery in the second half of the year as the global economy regain strength.
Looking ahead, highlights from macroeconomic calendar include UK GDP, US PPI, Canadian jobs report, Uni. of Michigan.
EU Key Point
- ECB's Villeroy supports that there is no risk of inflation overheating in Europe.
- 10-year Treasury yields jump higher to hit 1.60% again.
- UK January monthly GDP comes at -2.9% vs -4.9% m/m than expected.
- Risk keeps more tentative as yields tick higher ahead of European trading.
- Germany reports 12,834 new coronavirus cases, 252 deaths in latest update today.
- ECB does not intend quicker bond-buying to lead to further stimulus, according to sources.
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