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 expected to trade between 110.05 and 111.10.
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below 50% retracement area.
EU Market View
Asian shares rose and a gauge of global equities hovered near record highs on Wednesday after rising consumer confidence in economic recovery boosted the Nasdaq index to its highest-ever closing level. MSCI's global share index was set for a fifth straight month of gains on Wednesday. Its index tracking Asian shares outside Japan was set for a small monthly loss, but still on course for a fifth straight quarterly rise, its longest such streak since 2006-2007. On Monday, Richmond Federal Reserve President Thomas Barkin said the U.S. central bank has made "substantial further progress" toward its inflation goal in order to begin tapering asset purchases.
The market's continued focus on Fed plans for tapering come as the world's largest economy continues to rebound from pandemic lockdowns.
U.S. consumer confidence jumped to its highest level in nearly one and a half years in June as growing labour market optimism amid a reopening economy offset concerns about higher inflation. That came even as the Federal Housing Finance Agency house price index shot up a record 15.7% in April from a year ago, corroborating soaring house price inflation.
The dollar maintained its recent positive tone in early European trade Wednesday, as the spreading outbreak of Covid-19 cases in Asia prompts risk aversion ahead of the release of key U.S. jobs data. Risk appetite has taken a hit of late as the spread of the virulent delta strain of the Covid-19 virus through many Asian countries has caused the reimposition of restrictions.
EU Key Point
- ECB's Villeroy: Inflation should go up a bit this year then down again in 2022, 2023.
- UK Q1 final GDP -1.6% vs -1.5% q/q prelim.
- Head of Singapore's central banks says current monetary policy appropriate for no
- China official PMIs for June. Manufacturing 50.9 (vs. expected 50.8), Services 53.5 (expected 52.7).
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