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USD/JPY : targets higher levels
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.
XAG/USD: Silver gains but continuous to stand below key 23.6% retracement area.
EU Market View
Asia stocks opened higher on Tuesday, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points. Asian markets lack direction following a similar indecisive performance on Wall Street, as the absence of significant catalyst has participants looking towards the key events later this week including the ECB meeting and US CPI. US Republican Senator Capito was said to not sound too optimistic about talks with President Biden ahead of today’s meeting.
The European Central Bank is due for its monetary policy meeting on Thursday, the same day U.S. consumer price index number will be released, potentially fuelling talks of tapering by the Federal Reserve. In Asia, China inflation data is due on Wednesday.The dollar edged higher in early European trade Tuesday, but activity remains subdued ahead of this week’s key U.S. inflation release after Friday’s lackluster payrolls number.
Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China's oil imports fell in May.
EU Key Point
- Germany April industrial production -1.0% vs +0.4% m/m expecte
- Germany reports 1,204 new coronavirus cases, 140 deaths in latest update today.
- Japan May economy watchers survey current situation 38.1 vs 34.0 expecte
- China state media advise Australia to diversify its iron ore exports away from China.
- EU vice president Sefcovic threatens UK with "sausage trade war" (re Brexit).
- Coronavirus - Canada is set to loosen its quarantine rules for vaccinated travellers.
- Japan GDP final for Q1 2021 -1.0% q/q (prior +2.8%).
- Australian inflation expectations are steadily moving higher.
- US report says theory that COVID-19 virus leaked from a Chinese lab in Wuhan is plausibl
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