In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes...
Dollar regains some ground
2022-01-19 • Updated
Ichimoku Kinko Hyo
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 Market View
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.
USA Key Point
- The NZD is the strongest and the EUR is the weakest.
- EUR/USD pares earlier advance but keeps little changed.
- Germany January business climate index 90.1 vs 91.4 expected.
- BOJ's Kuroda supports that the state of emergency measures may dampen Japan's economic recovery.
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.
Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.
USD/CHF saw a rebound after declining for two days straight, climbing towards the important psychological level of 0.8800 during Wednesday's early Asian trading session. There's some pressure on the Swiss Franc (CHF) as traders await the Swiss ZEW Survey – Expectations report scheduled for later today. Moreover, investors are keeping...
In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes reports...