2021-02-03 • Updated
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.
XAG/USD: Silver yesterday faced a sharp sell off. Today buyers return and keep price above 61.8% retracement area.
Asian equity markets traded mostly higher as the region took impetus from global peers including the advances on Wall Street as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programmes accelerated. Wall Street rallied on Tuesday on renewed hopes for U.S. President Joe Biden's proposed $1.9 trillion COVID-19 aid bill as the Senate took steps to allow Democrats to pass Biden's package without Republican support.
The U.S. Treasury yield curve continued to steepen in Asian trading, reflecting expectations for more fiscal spending and growing economic optimism.
The roll-out of vaccines in many countries is gathering pace, earnings season in the United States and Japan has so far been bright, and oil prices are at their highest in a year, which are all positive signs for the global economy.
Looking ahead, highlights from the macroeconomic calendar include Eurozone, UK & US Markit PMIs (final), EZ CPI, US ADP, ISM services, OPEC+ JMMC, Fed's Kashkari, Bullard, Harker, Mester, Evans, Kaplan speeches.
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
In the dynamic world of financial trading, understanding the nuanced relationship between the Federal Reserve's key interest rates and Bitcoin can be a game-changer…
As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...
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