Source: PaxForex Premium Analytics Portal, Technical Insight As the head of the Central Bank of Japan, H. Kuroda said during an ongoing speech in Parliament: Foreign exchange rates are determined by a variety of factors; In recent years, the yen, dollar, and euro have shown stability; It is due to the course of monetary policy of the Bank of Japan, the Fed, and the ECB to achieve inflation within 2%; It is difficult to explain the yen's rapid rise in 2011 by the monetary base gap of Japan and other economies alone; The...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock indices closed Monday's trading with a moderate gain, having recovered the losses of the early session. The Dow Jones Industrial Average and the S&P 500 reached new record highs amid investors' optimism about the renewal of the U.S. economic activity. The Dow Jones Industrial Average index rose 174.82 points (0.53%) to 32953.46 points, reaching a record closing level for the fourth straight session. S&P 500, H4 Pivot: 3932.00 Analysis...
Source: PaxForex Premium Analytics Portal, Technical Insight Responding to concerns from the International Monetary Fund (IMF), New Zealand Finance Minister Grant Robertson said the government will address the issue of inflated house prices in the coming weeks and discussions about the 2021 budget later this year. However, Robertson refrained from mentioning possible steps to be taken to solve the problem. NZD/USD, 30 min Pivot: 0.7196 Analysis: Provided that the currency pair is traded below 0.7225, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight Investors injected into stocks while withdrawing money from gold and bonds in the week ended March 10, BofA data showed Friday. The BofA weekly report showed investors invested $31.5 billion in stocks, while $1.8 billion was withdrawn from gold and $15.4 billion from bonds. GOLD/USD, 30 min Pivot: 1725.00 Analysis: Provided that the price is above 1715.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1725.00 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight According to the RBC analysts, commenting on the results of the Bank of Canada's monetary policy meeting that ended, the Central Bank confirmed that the economy showed better-than-expected robustness in the second wave of the pandemic. Experts believe that the Canadian economy will return to full capacity in 2022, sooner than the regulator had forecast (the CB January estimate: 2023). USD/CAD, 30 min Pivot: 1.2474 Analysis: Provided that the currency pair is...
