Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US Dollar gains across the board
Information is not investment advice
Ichimoku Kinko Hyo
USD/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 below 38.2% retracement area. Despite the recent efforts from bulls, it seems that bears control the trend.
EU Market View
Asian equities traded higher following the positive performance on Wall Street where the S&P 500 and DJIA extended on record levels. Looking ahead, highlights from macroeconomic calendar include German ZEW, US retail sales, industrial production. Fed policymakers are expected to forecast that the U.S. economy will grow in 2021 by the fastest rate in decades, as it recovers from a coronavirus-stricken 2020. The Bank of England also meets this week on Thursday, while the Bank of Japan wraps up a two-day gathering on Friday.
Longer-term U.S. Treasury yields slipped further on Tuesday, as the market looked ahead to government debt auctions and the Fed's two-day policy meeting, which will conclude on Wednesday. The earlier rise in yields stemmed from investors speculating that rising inflation expectations could force the Federal Open Market Committee to signal it will start raising rates sooner than expected.
President Joe Biden's order to make vaccination available to all adults by May 1 contrasted with stuttering rollouts in Germany, France and elsewhere, where use of the AstraZeneca vaccine has been suspended due to concerns over possible serious side effects.
EU Key Point
- Germany reports 5,480 new coronavirus cases, 238 deaths in latest update today.
- BOE will continue bond purchases in 2021.
- Nikkei 225 closes higher by 0.5%.
- BOJ's Kuroda supports that asset prices are not part of BOJ's policy target.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.