Japanese Yen gains across the board but for how long ?
Fibonacci Levels XAG/USD: Silver facing a further consolidation above 61…
USD/JPY keeps a slight bounce of its 100-day moving average
Information is not investment advice
Ichimoku Kinko Hyo
AUD/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
XAU/USD: Gold after further weakness is trading below 23.6% retracement area.
US Market View
World shares dipped on Friday as investors awaited progress towards more U.S. fiscal stimulus, while the dollar was set for a weekly loss. U.S. stocks are set to open with light profit-taking at the end of another broadly positive week, punctuated by bursts of retail investor frenzy. Central banks across the world are clearer of late that their policies will be accommodative even beyond the current emergency period and this is further supportive for risk assets.
Markets in China and most of Southeast Asia were closed for the Lunar New Year. China's stock and bond markets, foreign exchange and commodity futures markets are closed through Feb. 17 for the holiday.
U.S. weekly unemployment claims fell less than expected and core consumer prices rose at a slower pace, causing some traders to temper their optimism about the economic outlook. House Speaker Nancy Pelosi said the Democrats’ proposal for a $15 minimum wage will be in the final draft of the stimulus package when the House debates it. The proposal, if implemented, could have far-reaching impacts on the structure of consumer spending in the U.S., along with risks to low-wage employment.
The British economy contracted by the most in over 300 years last year due to a combination of the pandemic and lower business investment due to the Brexit uncertainty. The Russian ruble fell after Foreign Minister Sergey Lavrov said the country was ready to break off diplomatic relations with the European Union.
USA Key Point
- The USD is the strongest and the NZD is the weakest.
- Japan health minister says aim to give official approval to Pfizer vaccine as early as Sunday.
- Gold turns lower as the dollar firms.
Gerasimos Papagiannis
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Japanese Yen gains across the board but for how long ?
Fibonacci Levels XAG/USD: Silver facing a further consolidation above 61…
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