EUR/USD ended the day higher above 1.1800
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is trading slightly below the cloud…
USD/JPY : climbs back closer to 107.00 multi-month tops
Information is not investment advice
Ichimoku Kinko Hyo
EUR/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 38.2% retracement area. Bearish pressure is growing but during the last hours bulls resist.
EU Market View
Asian shares edged higher on Wednesday as investors shrugged off concerns that stocks may have rallied too far too fast in the past year and focused instead on optimism that more imminent U.S. stimulus will energise the global economic recovery. The U.S. stock market was roiled last week when benchmark yields spiked to a one-year high on investor bets that a strong U.S. economic rebound amid ultra-loose monetary conditions could fuel inflation. U.S. Federal Reserve officials have said that inflation concerns are premature, however, and warned that rising yields could tighten financial conditions and constrain an economic recovery.
The Australian dollar, which has benefited from bets on an acceleration in global trade, was supported after stronger-than-expected economic growth in the fourth quarter fuelled hopes for a V-shaped recovery from the coronavirus pandemic.
Oil prices bounced slightly from a two-week low overnight on expectations that OPEC+ producers will ease supply curbs at their meeting later this week as economies start to recover from the coronavirus crisis.
Looking ahead, highlights from macroeconomic calendar include EZ, UK & US services PMIs (final), UK Budget, US ADP, ISM services, DoEs, OPEC JMMC, ECB's Panetta, de Guindos, Schnabel, Fed's Harker, Bostic, Evans, BoE's Tenreyro
EU Key Point
- BOJ's Kataoka supports that BOJ must respond flexibly if Japanese yields keep rising.
- Germany reports 9,019 new coronavirus cases, 418 deaths in latest update today.
- Russia warns US on sanctions, "stop playing with fire".
- BOJ's Kataoka says 2% inflation is hard to foresee.
- EUR/USD: Downside momentum looks mitigated.
Gerasimos Papagiannis
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USD/JPY: Live Coverage Trade Update
In our FOMC Meeting live coverage on YouTube yesterday, we sent out a short signal on USD/JPY around 25 minutes after the decision and right before the press conference.
The Fed & Delta Variant
The Federal Reserve decided to keep the current policy unchanged as widely expected, with no additional information about the timing of the tapering. In fact, in this meeting, the Fed mentioned tapering twice only.
EUR/USD ended the day higher above 1.1800
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is trading slightly below the cloud…
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