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2021-02-09 • 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.
XAU/USD: Gold after further weakness is trading below the 23.6% retracement area.
The US is ready for “extreme competition” with China over the next four years, President Joe Biden said at the weekend. In an interview with CBS, Biden appeared to suggest that US policy toward China will be less confrontational than under his predecessor but will not differ significantly in its aims.
US stock markets are set for a run at new record highs on Monday, against a backdrop of an improving public health picture and the steady progress of President Biden’s $1.9 stimulus package.New infections of Covid-19 fell to under 100 000 for the first time in nearly three months at the weekend, while the strain on hospital capacity also eased further, with only 81 000 admissions, its lowest since late November. On the downside, AstraZeneca reported its vaccine had limited efficacy against the new variant of the virus first identified in South Africa.
Crude oil prices hit $60 a barrel for the first time in a year, as part of a multi-faceted rally in risk assets across global markets. Prices were supported by Biden’s tough-sounding words on Iran, which took the edge off fears for a quick resumption and ramp-up of Iranian oil exports.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
In September 2022, USDSGD almost retested its peak of March 2020. The pair spiked above the 1.4400 level, driven by the strong US Dollar. Despite the obvious dominance of the USD, analysts believe that the Singapore dollar may be the one exotic currency worth our attention. Why do they share this opinion, and should we believe them?
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
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