Cable extends gains on softer dollar as buyers start to eye 1.4000

Cable extends gains on softer dollar as buyers start to eye 1.4000

2021-02-10 • Updated

2021_02_10_13_48_07_Template1_Autosaved_PowerPoint.png

GBPUSDM30 (6).png

2021_02_10_13_57_22_Template1_Autosaved_PowerPoint.png

GBPJPYM30 (5).png

Ichimoku Kinko Hyo

EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.

EURJPYM30 (6).png

Fibonacci Levels

XAU/USD: Gold after further weakness is trading below 38.2% retracement area. Bulls show signs of resistance.

XAUUSDH4 (7).png

US Market View

World shares rose to new all-time highs overnight and European indexes strengthened, with market sentiment generally upbeat on the prospect of fiscal stimulus and vaccine rollouts and ahead of a speech by U.S. Federal Reserve Chair Jerome Powell. U.S. President Joe Biden said on Tuesday he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus payments to higher-income individuals as part of his $1.9 trillion COVID-19 relief bill.

China's consumer price index fell more than expected, but factory prices posted their first year-on-year rise in 12 months, suggesting gathering momentum in the industrial sector. up. Chinese stocks rose to multi-year highs on the last trading day before the week-long lunar new year holidays.

The U.S. government will begin shipping COVID-19 vaccines directly to community health centers next week, as part of Biden's goal of administering 100 million doses of the vaccine in his first 100 days in office. U.S. Federal Reserve Chair Jerome Powell will speak in a webinar about the state of the U.S. labour market at 1900 GMT.

EUR/USD has been holding gains above 1.21, as the dollar remains on the back foot. Investors remain upbeat about US fiscal stimulus while shrugging off Europe's slow vaccination campaign. US inflation and Fed Chair Powell's speech are awaited. 

USA Key Point

  • BOJ may seek to clarify in March policy review that it has room to deepen negative rates.
  • Gold continues to keep steady but buyers starting to near test of key resistance levels.
  • Germany reportedly to extend lockdown until 14 March.
  • ECB prepared to adjust all instruments as needed to reach inflation target.
  • Chinese markets will be closed for about a week starting tomorrow.

                                                                                          LOG IN

Similar

How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Stocks to trade in July
Stocks to trade in July

When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera