Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US Dollar moves lower after a dovish FOMC minutes
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bearish pressure is growing.
EU Market View
Asia-Pac bourses traded mixed-to-positive after a relatively flat finish on Wall Street. US President Biden said he is prepared to hear proposals for a corporate tax rate below 28%.Looking ahead, highlights include ECB minutes, US IJC, BoE's Haldane, Fed's Bullard, Powell, Kashkari, supply from Spain & France. European stock markets are seen edging higher at the open Thursday, helped by another record close on Wall Street after the Federal Reserve reaffirmed its commitment to an ultra-easy monetary policy.
The U.S. dollar traded near more than two-week troughs versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve's March policy meeting offered no new catalysts to dictate market direction. Fed officials remained cautious about the risks of the pandemic - even as the U.S. recovery gathered steam amid massive stimulus - and committed to pouring on monetary policy support until a rebound was more secure, the minutes showed Wednesday.
German industrial orders rose for the second month in a row in February driven by strong domestic demand, data showed on Thursday in a further sign that manufacturers are set to cushion a pandemic-related drop in overall output in the first quarter.
EU Key Point
- Germany February factory orders +1.2% vs +1.2% m/m expected.
- Japan March consumer confidence index 36.1 vs 35.5 expected.
- ECB's Lane: Favorable financing conditions must be maintained.
- Germany reports 20,407 new coronavirus cases, 306 deaths in latest update today.
- New Zealand is suspending entry to the country from India.
- Reports again that Japan is considering tighter COVID-19 restrictions for Tokyo, other areas.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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European Currencies Ahead of the Banks' Statements
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.
Will the FOMC Surprise the Markets?
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.
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