NZD/USD buyers stay in near-term control, helped by risk-on tone

NZD/USD buyers stay in near-term control, helped by risk-on tone

2022-01-19 • 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 is still struggling to move higher and remains above the 38.2% retracement area.

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EU Market View

Asian equity markets began the week with a mildly positive tilt whilst US equity futures rebounded from Friday’s losses, although upside was limited. Iraq plans to reduce oil output in January and February to compensate for breaches to the OPEC+ agreement in 2020.

Asian shares climbed to near all-time highs on Monday as concerns over rising COVID-19 cases and delays in vaccine supplies were eclipsed by the optimism of a $1.9 trillion fiscal stimulus plan to help revive the US economy. At the same time, global equity markets have scaled record highs in recent days on bets COVID-19 vaccines will start to reduce the infection rates worldwide and on a stronger US economic recovery under President Joe Biden. Financial markets have been eyeing a massive package though disagreements have meant months of indecision in a country suffering more than 175 000 COVID-19 cases a day with millions out of work.

EU Key Point

  • Germany reports 6 729 new coronavirus cases, 217 deaths in the latest update today.
  • China is building border walls with Vietnam and Myanmar.
  • China's Global Times says large-scale tests of digital currency are planned for this year.

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