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USD/JPY : trading at 8 month high
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold facing a further weakness the last hours and trading below 23.6% retracement area. The risk off tone does not help gold.
US Market View
U.S. stocks are seen opening mixed Friday, amid cautious trading after the previous session’s sharp drops as investors start to readjust their interest rate expectations. The furious rally in risk assets around the world is taking a well-earned breather on Friday, with emerging market FX, commodities and equities all following the U.S. lower in varying degrees after the spike in U.S. bond yields on Thursday. The 10 year bond yield itself is making an unconvincing recovery, having spiked as high as 1.60% in the wake of a weak Treasury bond auction on Thursday, where the ratio of bids to bonds on sale hit a record low.
From the United States to Germany and Australia, government borrowing costs on Friday were set to end February with their biggest monthly rises in years as expectations for a post-pandemic ignition of inflation gained a life of their own. Australia's 10-year bond yield and Britain's 30-year yields were set for their biggest monthly jump since the 2009 global financial crisis. Long-dated New Zealand yields were flirting with their biggest monthly surge since 1994.
The world's largest economies should continue their rescue and support measures for workers and companies in the COVID-19 pandemic as the recovery is taking longer than initially thought, German Finance Minister Olaf Scholz said on Friday.
USA Key Point
- BOJ purchases ETFs for the first time this month amid market routs.
- EUR/USD falls to lows for the day as dollar holds firmer on the session.
- Germany's Spahn supports that 4.5% of German population have received a first vaccination dose.
- ECB may need to add support if rise in yields hurt growth.
- AUD/USD extends fall towards 0.7800 as the risk jitters continue to reverberate.
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