Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/JPY : sellers stay in search of a further downside run
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.
XAG/USD: Silver continuous to stand below 50% retracement area. Bearish pressure is growing again during the last days.
EU Market View
Asian stocks climbed to six-week highs on Monday amid signs the world economic recovery was still well on track, though rising COVID-19 cases in the region weighed on sentiment, pushing oil prices lower. European stock markets are seen edging higher at the open Monday, continuing the global rally amid signs the world economic recovery was well on track.
The risk appetite has been boosted by strong signs of a global economic improvement, typified by the early April manufacturing activity indicators out last week, with data hitting record highs in the United States and signalling an end to Europe's double dip recession. European Central Bank President Christine Lagarde assured the market late last week that pullbacks in the central bank’s emergency bond-buying program were not under discussion, and the Fed is widely expected to reiterate that stance when it concludes its two-day policy-setting meeting on Wednesday.
The dollar weakened in early European trading Monday, with risk sentiment on the rise as economic data point to a global economic recovery ahead of this week’s Federal Reserve meeting.
Looking ahead, highlights include German IFO, US durables, ECB's Panetta, Lane, 2yr and 5yr supply from the US. Earnings from Tesla
EU Key Point
- GBP/USD buyers seize near-term control as dollar keeps a touch softer.
- Risk keeps in a better spot ahead of European trading.
- Germany reports 11,907 new coronavirus cases, 60 deaths in latest update today.
- EU says UK economy predicted to grow at fastest rate since WW2.
- Bank of England Dep Gov Broadbent sees "very rapid" economic growth at least over the next couple of quarters.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.