Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/JPY: resilient above 103.00 but for how long?
Information is not investment advice
Ichimoku Kinko Hyo
CAD/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 is trading strongly higher and achieves a full retracement. Bulls control the market.
US Market View
US stocks are set to open mixed, ahead of the ‘quadruple witching’ today as December options contracts on stocks, indices, and other products all expire. As lawmakers pushed to finalize a roughly $900 billion stimulus deal, congressional leaders remained divided on Thursday over a handful of issues whose outcome could help determine the course of a sputtering economic recovery. Data released overnight in Europe again suggested that the economic impact of the latest lockdown may not be as bad as feared.
The never-ending saga of the US stimulus package is set to extend into the weekend after disagreements over end-dates for some Federal Reserve lending programs held up negotiations on Capitol Hill on Thursday. Crude oil prices have cooled a little overnight, but the rally in the rest of the industrial commodity complex continues unabated.
USA Key Point
- Canada October retail sales 0.4% vs. 0.0% estimate
- Canada retail sales lead the modest economic calendar today
- The CHF is the strongest and the GBP is the weakest
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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