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2021-02-02 • Updated
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver after yesterday’s rally is trading above 38.2% retracement area.
Asian equity markets advanced after the firm handover from Wall St with the resurgence led by the tech sector. European stock markets are seen opening higher Tuesday, helped by signs of progress towards further U.S. stimulus, while concerns over volatile retail-led trading receded. U.S. President Joe Biden sat down late Monday with a group of ten Republican senators to discuss their proposal of a scaled-back Covid-19 stimulus package, in a welcome sign of bipartisan co-operation in Washington.
That said, Biden insisted on keeping the $1.9 trillion price tag that he proposed in January, saying that the downsized effort does not go far enough to solve the coronavirus crisis. And senior Democrats later filed a joint $1.9 trillion budget measure in a step toward aimed at bypassing Republicans.
Oil prices pushed higher Tuesday, helped by newswire reports that the major oil producers have shown restraint in terms of production levels in January even as prices rose.
Looking ahead, highlights from macroeconomic calendar include Eurozone GDP, OPEC JTC meeting, Fed's Kaplan, Williams, Mester, speeches.
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 the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
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