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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.
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.
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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