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/JPY: Bulls in control near multi-month tops, eyeing 107.00
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
XAU/USD: Gold facing a further weakness the last hours and trading below 23.6% retracement area. It seems that bears gain the battle.
US Market View
U.S. stock markets are set to open higher against the calmer bond market backdrop, able to focus on the progress of the administration’s $1.9 trillion stimulus bill on Saturday. Final PMIs for February were also revised up across most of Europe, with Eurozone manufacturing posting its best reading since early 2018, at 57.9, and the UK Manufacturing PMI being revised up to 55.1. China’s Caxin PMI, however, fell to its lowest in nine months.
Central banks push back against the bond market bears, pushing yields down. The manufacturing recovery in China slows, but Europe's and Japans accelerates. The bond market volatility that dominated last week’s trading has subsided, with the first concrete sign of central banks pushing back against those pushing yields higher in anticipation of higher inflation. The European Central Bank will also publish later details of its bond purchases last week, which should show how keen the ECB was to avoid what it calls an “unwarranted tightening of financial conditions.”
USA Key Point
- US Treasury yields tick higher ahead of North American trading.
- Eurozone February final manufacturing comes at PMI 57.9 vs 57.7 prelim.
- Pound keeps a little higher, but buyers need to do more to recapture upside momentum.
- USD/JPY: Bulls in control near multi-month tops, eyeing 107.00.
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