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...
USD/CAD: touches three-year low before FOMC
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. Bearish pressure is growing, and bulls seem weak to gain control.
EU Market View
European stock markets are seen opening lower Wednesday, on mounting Covid concerns ahead of the outcome of the Federal Reserve’s two-day policy meeting. French health authorities reported 29,975 new cases on Tuesday, a 4.5% jump versus last Tuesday's total and the sharpest week-on-week rise in a month and a half.
Global markets have been knocked in recent weeks by a rout in Treasuries that saw the benchmark yield soar to a more than one-year high as bond investors bet accelerating COVID-19 vaccinations and massive fiscal stimulus would spur faster-than-expected growth and inflation in the world's biggest economy.
The U.S. central bank is scheduled to release new economic and interest rate forecasts and is likely to acknowledge stronger growth in 2021. With the Biden administration’s $1.9 trillion stimulus package yet to have its impact, the market is beginning to anticipate interest rates rising sooner than in 2024, as the central bank’s current guidance suggests. The central bank is expected to keep rates unchanged and its $120 billion pace of monthly bond purchases on hold. An update from the Powell, however, has the potential to trigger a move in bond yields that would likely move stocks. Expect Powell to refuse a talk of policy tightening because of the large amount of labour market slack. U.S. bond yields and the USD could jump if the FOMC’s post‑meeting statement and Powell’s statement are not deemed dovish enough.
EU Key Point
- Germany reports 13,435 new coronavirus cases, 249 deaths in latest update today.
- Japan will raise tariffs on US beef imports for 30 days.
- South Korea says there is no reason to stop using the AstraZeneca coronavirus vaccine.
- The latest International Atomic Energy Agency report shows Iran edging closer to developing a nuclear weapon.
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