
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 23.6% retracement area with bulls to struggle day by day more to gain control.
EU Market View
Asia-Pac stocks traded mostly higher following the rebound in the US where small caps atoned for the prior day's underperformance. European Commission President von der Leyen said that companies have to honour their contracts to the EU before exporting vaccines. European stock markets are seen opening higher Friday, helped by late gains on Wall Street overnight, although the positive tone will be tempered by ongoing concerns over rising Covid-19 cases and the region’s slow vaccine rollout. The region's third wave of Covid-19 cases still shows few signs of easing: while Italy has flattened its infection curves, cases continue to rise in Germany, Austria, and France. Poland also registered a new record high for cases on Thursday. Another reason for concern is the rising tension between the West and China, after the EU joined the U.S. and a number of Western countries this week in imposing sanctions on officials in China's Xinjiang region over allegations of human rights abuses.
The dollar traded near multi-month highs against most major currencies on Friday, supported by a wave of optimism over improving U.S. economic data, the rollout of coronavirus vaccines, and rising Treasury yields. The euro rebounded slightly ahead of data on German business sentiment due later in the day, but the outlook for the common European currency has soured because of renewed coronavirus lockdowns and the slow pace of vaccinations across the European Union.
U.K. retail sales fell by 3.7% on the year in February, slightly improvement from the 5.9% drop the previous month, but still indicative of a difficult situation with a lot of the country locked down.
Oil prices rebounded Friday amid worries that it may take weeks to free the container ship stuck in the Suez Canal, blocking supply through the key waterway for a prolonged period of time.
Looking ahead, highlights from macroeconomic calendar include UK retail sales, German IFO, personal income and spending, Uni. of Michigan (final)
EU Key Point
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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.
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