forex.pm forex forum binary options trade

The BOJ meeting this week is dominating trades as the new week kicks-off. Japanese 10-yr yields trading at 0.51% above the BOJ ceiling and adding to the speculation that the ceiling could be raised to 1.0% on Wednesday. US stocks closed higher again on Friday and gained 2.3% last week. US markets are closed today and Asian markets are broadly higher expectations of China opening quickly even as COVID deaths hit record levels. The USD trades at 7-mth lows, GOLD at April 2022 highs, and BTC over $21k and 2-mth highs.    

Week Ahead – BOJ Wednesday, US – Retail Sales, PPI, Empire & Philly Fed & Housing data. EZ – ZEW. UK – CPI, Jobs & Retails sales. CAD – CPI & Retail sales. AUD – Jobs. EARNINGS SEASON In full swing (Morgan Stanley, Goldman Sachs & Netflix headline).

• The USD Index tanked under 102.00 on Friday to close at 101.85.


• EUR – holds over 1.0800. The pair touched 1.0860 in early trades and back to 1.0835 now. 


• JPY – dipped again touching 127.30 lows (last seen April 2022) in Asian trading, back to test 128.00 now.


• GBP – Sterling tested 1.2290 before slipping back to test 1.2225 support.


• Stocks – The US markets closed higher on Friday (+0.33-0.71%), following generally good Banking Earnings, tempered by cautious outlooks and job losses. US500 +16.03 (0.40%) at 3999. JPM +2.52%, COIN +5.11%, AMZN +2.99%. FUTS trade at 4018.

• USOil – rallied again to trade at $80.00 last week, up from January 5th lows at $72.30. 


• Gold – the Bid remains strong as $1900 holds, and $1930 was tested in Asia, back to  $1915 now. 


• BTC – Weak USD helps to lift prices over $20k touching $21.3k today. 

Today – Eurogroup Meetings, BOC Business Outlook, Speech from BOE’s Bailey – DAVOS meetings start, US markets closed for MLK day.

Biggest FX Mover @ (07:30 GMT) NZDJPY (+0.27%). Bounced from a test of 81.00 on Friday and adds to gains today at 81.80 but is down from 88.00 highs in December. MAs flat, MACD histogram & signal line negative but rising. RSI 46.60 & neutral, H1 ATR 0.205, Daily ATR 1.185.

Click here to access our Economic Calendar

Stuart Cowell

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.