USD strength on risk off mood

Read the article on FBS website

2021_01_22_10_05_34_Template1_Autosaved_PowerPoint.png

GBPUSDM30 (5).png

2021_01_22_10_10_32_Template1_Autosaved_PowerPoint.png

GBPJPYM30 (6).png

Ichimoku Kinko Hyo

USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.

USDJPYM30 (16).png

Fibonacci Levels

 XAG/USD: Silver stands lower on the key retracement area of 38.2%. It seems that bulls lose control for another day.

XAGUSDH4 (11).png

EU Market View

Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels. European stock markets are seen opening lower Friday, ending a generally positive week on a cautious note amid concerns that growing Covid-19 cases will stunt economic growth.  European Central Bank President Christine Lagarde warned Thursday that ever-increasing Covid-19 numbers and restrictive measures, such as lockdowns, to curb the spread of the virus could challenge the region’s economic outlook.

Lagarde also indicated more clearly than ever that the ECB would not use the full amount of its chief bond buying program if it does not need to.  

In FX markets, USD remained subdued, EUR/USD held on to yesterday's gains and GBP/USD oscillated around 1.37. Looking ahead, highlights from macroeconomic calendar include UK and Canadian retail sales, EZ, UK, US flash PMIs, existing home sales.

EU Key Point

  • UK December retail sales 0.4% vs 1.0% m/m than
  • Chinese officials saying yuan is currently at a reasonable level.
  • HK press report parts of Kowloon to be locked down in the next 3 days.

LOG IN

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.