2021-01-22 • 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 stands lower on the key retracement area of 38.2%. It seems that bulls lose control for another day.
Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels. European stock markets are seen opening lower Friday, ending a generally positive week on a cautious note amid concerns that growing Covid-19 cases will stunt economic growth. European Central Bank President Christine Lagarde warned Thursday that ever-increasing Covid-19 numbers and restrictive measures, such as lockdowns, to curb the spread of the virus could challenge the region’s economic outlook.
Lagarde also indicated more clearly than ever that the ECB would not use the full amount of its chief bond buying program if it does not need to.
In FX markets, USD remained subdued, EUR/USD held on to yesterday's gains and GBP/USD oscillated around 1.37. Looking ahead, highlights from macroeconomic calendar include UK and Canadian retail sales, EZ, UK, US flash PMIs, existing home sales.
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.
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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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