Watch this brief video as Stuart Cowell presents the 31 January USDJPY Intraday Technical Analysis as USD languishes amid stocks continuous sell-off.
31 January, HotForex – U.K. stock futures are also in the red amid dollar weakness, but U.S. futures are recovering from yesterday’s decline. Investors had been taking profit as the months draws to a close and warnings over the vulnerability of markets to major corrections are getting louder, while confidence in the global growth outlook and improvements in corporate profits are underpinning sentiment.
10-year yields declined in Asia and the 10-year Treasury yield is also down -1.1 bp but holds above 2.7% as the focus turns to the FOMC announcement. Oil prices are down and the front end WTI future is trading around the USD 64 per barrel mark, while industrial metals reversed losses. Released overnight, U.K. GfK consumer confidence unexpectedly improved.
Still, to come, the European calendar has inflation data for Spain, France and the Eurozone as a whole, as well as German and Eurozone labour market data,
31 January USDJPY Intraday Technical Analysis (+Video)
USD languishes: Stocks continue to sell off – The dollar has been trading with a heavy bias amid a backdrop of mostly firming stock markets in Asia, though has remained well off recent trend lows.
This article about 31 January Intraday Technical Analysis was written by Stuart Cowell, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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