EUR/GBP: bulls return again

EUR/GBP: bulls return again

2021-01-29 • Updated

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Ichimoku Kinko Hyo

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

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Fibonacci Levels

 XAG/USD: Silver the last day shows a remarkably bullish momentum that send price at 61.8% retracement area.

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EU Market View

European stock markets are seen opening sharply lower Friday, with investors cutting positions given the uncertainty surrounding the populist trading movement. Global stocks are set for their worst weekly slide in about three months, partly on the turmoil caused by small traders organizing over online forums, such as Reddit, to force hedge funds to reverse short positions on a series of stocks. Looking ahead, highlights from macroeconomic calendar include German jobs report, US PCE, personal consumption, Canadian GDP, Chicago PMI, Uni. of Michigan (final), ECB's de Guindos, Fed's Kaplan and Daly speeches.

 Oil prices were mixed on Friday as a pending supply cut by Saudi Arabia and lower U.S. oil stocks helped counter risks of slowing fuel demand due to stalled vaccine rollouts and contagious new coronavirus strains.

EU Key Point

  • Japan January consumer confidence index 29.6 vs 29.0 expected.
  • Germany reports 14,022 new coronavirus cases, 839 deaths in latest update today.
  • US Treasury Sec Yellen is heading to the White House Friday to give a briefing to Biden.
  • China's overnight repo rate has hit its highest since 2015.

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