Don’t waste your time – keep track of how NFP affects the US dollar!
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NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below the 38.2% retracement area. The bearish pressure is growing.
Asia-Pac equity markets traded mostly lower after the lackluster handover from Wall Street. WTI crude futures hovered around the USD 60/bbl level. The winter storm stateside is said to have hit US oil output by as much as a third. Overnight on Wall Street, the Dow Jones was helped to a record closing high by gains from banks, which benefit from higher yields.
US Treasury yields hit one-year highs on Wednesday, lending support to the dollar but pressuring lofty valuations for stocks, as investors reckoned that a stimulus-fuelled global recovery will eventually bring rising inflation. The gap over two-year yields also opened to its highest level in nearly three years, as traders figure that short-term monetary policy will stay supportive, even as the world bounces back from the pandemic.
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Looking ahead, highlights from the macroeconomic calendar include UK CPI, Retail Sales, Industrial Production, Canadian CPI, FOMC Minutes, Fed's Rosengren, Kaplan, BoE's Ramsden speeches.
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The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
Fundamental news The US Securities and Exchange Commission (SEC) has approved an exchange-traded fund called the Volt Bitcoin Revolution ETF…
The time for cryptocurrency has come! Bitcoin is once again looking interesting enough to analyze it. But digital gold is not the only one to watch after.
Apple, your favorite phone maker and one of the biggest tech companies, which capitalization has recently reached $3 trillion, will post its earnings today at 23:30 GMT+2.
For a long time, US Federal Reserve printed trillions of dollars to support the economy. But in the light of the highest inflation in almost 40 years, the stream of stimulus tends to shrink.
What is happening? In December 2021, the main question on global markets was: “When will the FED increase the key rate?” Traders and investors were transferring their capitals into USDs, waiting for the great dump worldwide…