2021-02-05 • Updated
CAD/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 above 61.8% retracement area. Bears seems that losing control of the trend.
Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street. European stock markets are seen edging higher at the open Friday, amid optimism that the ongoing global vaccination program will restore the region’s economy - notably in the U.K. - and speed the earnings recovery. The euro zone has been hard hit by the second wave of the Covid-19 pandemic, with the region’s GDP falling by 0.7% in the final quarter of 2020 as governments introduced new restrictions and lockdowns to try to curb the virus. Later today the focus will be on the official U.S. employment report later in Friday’s session, with job growth expected to have rebounded in January as authorities began easing restrictions on businesses.
US House Speaker Pelosi has been asked by swing-district members to break up the COVID-19 relief bill. Looking ahead, highlights from macroeconomic calendar include US and Canadian labour market reports, BoE's Broadbent, Bailey ECB's Schnabel speeches.
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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