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Alien's Extraterrestrial Visual Systems
- #22,348
- Mar 8, 2021 4:11am Mar 8, 2021 4:11am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
An overview for alien traders:
"EUR/USD has dipped below 1.19, hitting a new 2021 low. The pair opened the week on a positive note with the dollar nursing losses across the board in the wake of the US Senate's passage of President Joe Biden's $1.9 trillion fiscal stimulus plan. The bill now goes to House for clearance. However, the US 10-year yield remained steady just shy of the 12-month high of 1.62%. As such, the dollar recovered losses, pushing EUR/USD lower. The pair could drop further, as analysts expect yields to continue rising on stimulus progress. Besides, the greenback may find bids due to the oil rally. Reports of attacks on Saudi Arabian oil production facilities have powered Brent crude to the highest level since January 2020. EUR/USD's downside will likely gather pace if the German Industrial Production and the Eurozone Sentix Investor Confidence disappoint expectations. GBP/USD has been under pressure despite Britain's reopening and due to higher US yields. With 82 coronavirus (COVID-19) related deaths in Britain, the lowest since October 2020, Britain is confident of easing the virus-led activity restrictions. However, routine checks for the schools and colleges test the optimism in the UK. Moving forward, the UK will plan to regain its market share in the US, Germany and China, which in turn will require heavy activities to ward off covid and Brexit-led losses. Elsewhere, Britain’s Chief Brexit Negotiator David Frost dislikes the European warning to go legal over England’s unilateral extension of Northern Ireland protocol. This pushes him to say, per Sky News, “I hope they will shake off any remaining ill will towards us for leaving, and instead build a friendly relationship, between sovereign equals.”
The USD/JPY pair trades at fresh 2021 around 108.50, as US Federal Reserve chief Jerome Powell brought back the yields’ frenzy. In a televised interview on Thursday, Powell repeated that, while there has been progress, the country is still far away from Fed’s goals on inflation and employment. When asked about Treasury yields, he noted that they are not a condition to change the current monetary policy, adding that substantial progress towards employment and inflation targets is needed. Wall Street plunged, dragging Asian and European indexes lower this Friday. On the other hand, government bond yields soared, with that on the 10-year note now at 1.55% after hitting 1.58% ahead of the opening. Japan published February Foreign Reserves at the beginning of the day, which resulted in $1379.4 billion from $1392.1 billion previously. The focus is now on US employment figures. The country will release the February Nonfarm Payroll report, expected to show that 182K new jobs were added in the month. The unemployment rate is foreseen steady at 6.3%. Gold consolidated its recent slide to multi-month lows and remained confined in a range on Friday. The passage of the US stimulus bill, attacks on Saudi Arabian oil facilities extended some support."
Cheers
"EUR/USD has dipped below 1.19, hitting a new 2021 low. The pair opened the week on a positive note with the dollar nursing losses across the board in the wake of the US Senate's passage of President Joe Biden's $1.9 trillion fiscal stimulus plan. The bill now goes to House for clearance. However, the US 10-year yield remained steady just shy of the 12-month high of 1.62%. As such, the dollar recovered losses, pushing EUR/USD lower. The pair could drop further, as analysts expect yields to continue rising on stimulus progress. Besides, the greenback may find bids due to the oil rally. Reports of attacks on Saudi Arabian oil production facilities have powered Brent crude to the highest level since January 2020. EUR/USD's downside will likely gather pace if the German Industrial Production and the Eurozone Sentix Investor Confidence disappoint expectations. GBP/USD has been under pressure despite Britain's reopening and due to higher US yields. With 82 coronavirus (COVID-19) related deaths in Britain, the lowest since October 2020, Britain is confident of easing the virus-led activity restrictions. However, routine checks for the schools and colleges test the optimism in the UK. Moving forward, the UK will plan to regain its market share in the US, Germany and China, which in turn will require heavy activities to ward off covid and Brexit-led losses. Elsewhere, Britain’s Chief Brexit Negotiator David Frost dislikes the European warning to go legal over England’s unilateral extension of Northern Ireland protocol. This pushes him to say, per Sky News, “I hope they will shake off any remaining ill will towards us for leaving, and instead build a friendly relationship, between sovereign equals.”
The USD/JPY pair trades at fresh 2021 around 108.50, as US Federal Reserve chief Jerome Powell brought back the yields’ frenzy. In a televised interview on Thursday, Powell repeated that, while there has been progress, the country is still far away from Fed’s goals on inflation and employment. When asked about Treasury yields, he noted that they are not a condition to change the current monetary policy, adding that substantial progress towards employment and inflation targets is needed. Wall Street plunged, dragging Asian and European indexes lower this Friday. On the other hand, government bond yields soared, with that on the 10-year note now at 1.55% after hitting 1.58% ahead of the opening. Japan published February Foreign Reserves at the beginning of the day, which resulted in $1379.4 billion from $1392.1 billion previously. The focus is now on US employment figures. The country will release the February Nonfarm Payroll report, expected to show that 182K new jobs were added in the month. The unemployment rate is foreseen steady at 6.3%. Gold consolidated its recent slide to multi-month lows and remained confined in a range on Friday. The passage of the US stimulus bill, attacks on Saudi Arabian oil facilities extended some support."
Cheers
Per aspera ad astra
