
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo
GBP/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 continuous to stand below 38.2% retracement area. Bulls have returned.
EU Market View
Asian equity markets traded cautiously after the mild tailwinds from the US; Chinese markets saw a choppy session. Global equity funds lured massive inflows in the week ended April 14, on optimism over a strong second quarter earnings, and a decline in U.S. yields due to tempered expectations about a rise in inflation levels. The U.S. Treasury yields dropped this week, helped by the release of U.S. consumer prices data which showed inflation was not rising wildly. The expectations of higher inflation levels due to massive stimulus measures lifted U.S. yields to a 13-month high in March.
The dollar headed for its worst back-to-back weekly drop this year amid an extended retreat in Treasury yields as investors increasingly bought into the Federal Reserve's insistence of keeping an accommodative policy stance for a while longer.
Oil prices extended gains on Friday and were on course for a weekly gain of about 7% with an improved oil demand outlook and strong economic recoveries in China and the United States offsetting concerns about spikes in COVID-19 infections.
A coronavirus variant with potentially worrying mutations that was first detected in India has been found in the UK, whilst testing accuracy has raised urgent concerns. Looking ahead, highlights include EZ CPI (Final), US University of Michigan (Prelim.), Fed's Kaplan, BoE's Cunliffe and earnings from Morgan Stanley
China's economic recovery quickened sharply in the first quarter from last year's deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms. Gross domestic product (GDP) jumped 18.3% in the first quarter from a year earlier, official data showed on Friday. While that undershot the 19% forecast by economists in a Reuters poll, it was the fastest growth since quarterly records began in 1992 and up from 6.5% in the fourth quarter last year.
EU Key Point
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
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