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USD/JPY climbs back to 109.35 amid strong USD
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 continues to stand above 23.6% retracement area. Bullish pressure is growing during the last few days and it seems that bulls have decided to send price higher.
EU Market View
Asian equity markets traded mixed following on from a mostly positive US session after sentiment was underpinned amid an easing of COVID restrictions. European stock markets are seen opening in a mixed fashion Tuesday, amid continued concerns over rising Covid-19 cases in India but also optimism as major economies around the world reopen. Turning back to Europe, confidence is growing over the recovery from the pandemic as the rate of vaccination in EU member states rises quickly. On Monday, the European Commission put forward a plan to reopen the continent to holidaymakers from countries with low Covid infection rates, such as the U.K., and to anyone who has been fully vaccinated, by the start of June.
Looking ahead, highlights include UK manufacturing PMI, US factory orders, NZ unemployment, ECB's Villeroy, Fed's Daly, Kaplan speeches.
The dollar drifted higher in the Asia session on Tuesday, pausing a monthlong decline as investors weigh whether a roaring US economic recovery may force interest rates higher and are looking to upcoming economic data and policy speeches for clues.
Oil inched up Tuesday morning in Asia as investors remained optimistic the continued economic recovery in regions such as Europe and the US will boost fuel demand. However, ever-increasing numbers of COVID-19 cases in other regions put a cap on the black liquid’s gains.
EU Key Point
- Germany reports 7,534 new coronavirus cases, 315 deaths in the latest update today.
- Australia weekly consumer confidence: 112.7 (prior 112.4)
- The Pfizer COVID-19 vaccine to be authorized for ages 12 - 15 in the US next week.
- Feds Barkin: Will start to taper when seeing substantial progress.
- More from Feds Williams: Fed's main goal is to anchor inflation expectations.
- Feds Powell: US economic outlook has brightened but not out of the woods.
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