I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
Weak data put US dollar under pressure
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair has just surpassed the Tenkan-sen level. Further increase of the market will lead USD/JPY towards the Kijun-sen level. A failed attempt to move higher will push the pair below the Tenkan-sen, with further bearish implications.
XAU/USD: Gold is heading towards the previous top and continues to be a bullish bet.
European Market View
The risk of a second wave of coronavirus is more likely to put pressure on rates. Risky assets are supported by fiscal and monetary stimulus.
The US dollar will most likely stay under pressure provided the weak data as well as the political uncertainty (yesterday’s comments from the President regarding postponing the US presidential elections).
GDP data for France, Spain, Italy and Canada are about to be released today. A significant slowdown is expected, as we saw in Germany and US yesterday.
The preliminary EU inflation data for July are expected as well to decline. The US PCE data (for July) are expected to rebound modestly.
Moody’s may update its view on the German sovereign rating. However, we do not expect to see a change to either the outlook or the rating.
European Key Point
- The risk of a COVID-19 second wave
- Weak data put US dollar under pressure
- GDP data for France, Spain, Italy and Canada
- The preliminary EU inflation data for July
- Moody’s may update its view on the German sovereign rating
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