Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD is the strongest and the AUD is the weakest
Information is not investment advice
Ichimoku Kinko Hyo
AUD/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 after many efforts to move higher returns aggressively bearish.
US Market View
U.S. stock markets are set to extend Wednesday’s losses when they open later, on fears that the current wave of Covid-19 cases will weigh heavily on output in the final quarter of the year.
The U.S. passed the grim milestone of over 250,000 deaths from Covid-19 as cities and states across the country moved to tighten restrictions on gatherings and economic life to stop their health systems from being overwhelmed. The number of people hospitalized with the virus rose to a new record high of over 79,000, while the death count hit its highest since early May.
The Central Bank of Turkey raised its key one-week borrowing rate by 475 basis points, as its new governor acted to shore up the world’s worst-performing currency among the big emerging markets this year.
USA Key Point
- November Philly Fed comes at 26.3 vs 23.0 than expected
- IMF's Georgieva supports that global economic recovery may be losing momentum, risks are very high
- Barnier reportedly cancels briefings to EU side planned for next week
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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Best Instruments to Trade This Week
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.
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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