ONLINE FOREX BROKER
2021-03-02 • Updated
Despite Monday’s optimism, a new day has brought some cautious moods to the market. It seems like rising bond yields keep investors worried. Another reason for this sudden switch in risk sentiment lies in comments by China’s banking and insurance regulator. During the Asian trading session, it expressed worries about existing bubbles in foreign markets. Now, China is researching the possibility of preventing turbulence in its market.
The gloomy outlook increased the demand for the US dollar. Notably, the USD advanced against the so-called “safe-haven” currencies: the Swiss franc and the Japanese yen.
On the daily chart of USD/JPY, the pair has been trying to stick above the upper border of the ascending trading channel. The USD pushed the pair almost as high as 107. This is a very strong resistance marking the last August’s peak. On the downside, the closest support is placed at 106.6. The breakout of this level will provoke a further slide to 106.1. The signal line of the stochastic oscillator has almost entered the overbought zone. You may use the crossover of the stochastic oscillator’s two lines for an additional signal for shorts.
Unlike USD/JPY, USD/CHF has already left the trading channel and surged to a high of 0.92. The next resistance is placed at 0.9240. In case of correction, wait for the pair to reach the 0.9085 level. You can use the crossover of stochastic in the overbought zone (above 80) as a confirmation for a sell here as well.
If we talk about the future of both of these pairs, it mainly depends on the USD-related news. The closest major event for the US currency is the non-farm payrolls this Friday at 15:30 MT time. Thus, we may see some interesting swings in the performances of USD/JPY and USD/CHF.
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 previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
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