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 : pushes higher on firmer dollar, higher yields.
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.
XAU/USD: Gold bulls return above 23.6% retracement area. Gold buyers keep the faith, price closes in on $1,800 and 38.2% retracement area.
US Market View
U.S. stock markets are set to open lower later, as the prospect of rising bond yields feeds through into higher expected costs of capital for companies, something that depressed returns on equity. The House of Representatives plans to vote as soon as Friday on President Joe Biden’s $1.9 trillion stimulus, meaning the Senate could vote on it as soon as next week.
The potential for this bill has been boosting Wall Street for several weeks, but investors are starting to grow concerned that this additional liquidity, coupled with a very easy policy stance from the Federal Reserve, will result in a rapid rise in inflation.
This all puts the focus onto Federal Reserve Chairman Powell ahead of his two-day testimony to Congress, starting Tuesday, on the economic outlook and the central bank’s monetary policy stance. Oil prices climbed Monday as U.S. production returned only slowly from last week’s severe cold snap, further tightening a global market where inventories have fallen sharply in recent weeks.
USA Key Point
- Dollar lower, focus stays on yields ahead of North American trading
- ECB president Lagarde to speak later today.
- EUR/USD back to little changed on the day as dollar push and pull continues.
- Italy reportedly extends ban on regional movement to 27 March.
- Germany's Merkel reportedly seeks four-stage plan to ease lockdown restrictions.
- Gold buyers keep the faith, price closes in on $1,800.
- Commodity currencies pare early gains.
- USD/CAD pares early losses, posts modest gains around 1.2620.
- NZD/USD retreats after spiking to multi-year highs, holds near 0.7300.
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