How to Trade on FOMC Press Conference?
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
Dollar retreats from highs ahead of Yellen's testimony
2021-01-19 • Updated
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.
Fibonacci Levels
XAG/USD: Silver breaks down many support levels but recently buyers achieved to send price above 23.6% retracement area.
EU Market View
Asian equity markets mostly rallied with risk appetite spurred as trade picked up from Monday’s holiday. Treasury Secretary nominee Yellen is expected to call for big action to spur a recovery. Looking ahead, highlights from macroeconomic calendar include German ZEW, Yellen's Treasury Secretary confirmation hearing, BoE's Haldane, earnings from GS and Netflix.
EU Key Point
- Europe car sales plunged by the most on record in 2020
- Germany December final CPI comes at -0.3% vs -0.3% y/y
- USD/JPY continues to face stiff resistance just above the 104.00 area
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