2022-01-19 • Updated
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold after a remarkable selloff is trading above the 38.2% retracement area.
US stock markets are set to open the week higher on the back of the improving news flow from the pandemic and confidence in sustained high liquidity, given the loose state of US fiscal and monetary policy. The latter is expected to be reaffirmed on Wednesday after the Federal Reserve’s latest policy meeting. California is set to lift its stay-at-home order, while national infection rates and hospital admissions hit their lowest in weeks.
President Joe Biden is expected to sign a new “Buy American” order, underlining the essential continuity of US trade policy despite the radical change of tone expected from Donald Trump’s administration. Biden’s policy initiatives will continue to compete for attention as the House of Representatives sends the articles of Donald Trump’s second impeachment to the Senate, most likely later Monday. Some have speculated that the fresh impeachment trial will make it harder for Biden to gain bipartisan approval for his $1.9 trillion stimulus package.
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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