Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD remains strong despite risk on mood
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.
Fibonacci Levels
XAU/USD: Gold still struggling to move higher and remains below 23.6% retracement area.
US Market View
World shares rose on Wednesday as volatility caused by a retail trading frenzy on Wall Street subsided on expectations of tougher regulation, while optimism about U.S. fiscal stimulus also supported sentiment. The prospect of former ECB chief Mario Draghi becoming prime minister in Italy added to the cheer, along with record sales at Google parent Alphabet (NASDAQ:GOOGL) which offset a tepid reception to news that Amazon founder Jeff Bezos will step down as CEO.
Italian bonds and stocks outperformed on expectations former European Central Bank chief Draghi could become the country's next prime minister, ending weeks of political crisis. Italy's 10-year bond yield fell more than 10 basis points to around 0.55%, its lowest in almost two weeks. It was set for its biggest one-day fall since mid-January. Italian stocks rose 2.7%, lifted by banks.
Oil prices continued their upswing, supported by an unexpected draw in U.S. crude stockpiles and a producer estimate of a global oil market deficit this year.
USA Key Point
- Oil climbs to a fresh one-year high as OPEC committee meets.
- ADP US January jobs report comes at +174K vs +50K than expected.
- The NZD is the strongest and the GBP is the weakest.
- Draghi accepts mandate to form Italian government.
Similar
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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