
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
2021-01-22 • Updated
CAD/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 a remarkable sell off is taking place.
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday. Crude oil prices also fell on the same pandemic concerns. News flow from the pandemic took a turn for the worse, as President Joe Biden warned of another 100,000 deaths within the next month, while Tokyo faced up to fears it may have to cancel the rescheduled summer Olympics. PMIs in Europe also ticked down and government deficits ticked up. The news flow around the pandemic took a darker turn around much of the world. President Joe Biden said the U.S. death toll from Covid-19 could top 500,000 in the next month, while Germany’s topped 50,000.
U.K. Prime Minister Boris Johnson warned that the current lockdown could last until summer and Japan’s government was forced to deny reports that it will be forced to cancel the summer Olympic Games, which were already rescheduled once last year.
The Eurozone economy fell deeper into contraction territory at the start of the year, according to purchasing managers indices released by IHS Markit.
The Composite PMI for the Eurozone fell to 47.5 from 49.1, against a backdrop of restrictions on social life and economic activity that have been successively tightened as new strains of the virus have been discovered.
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
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