Mizuho outlines the conditions for USD/JPY to rise
The firm says that the market isn’t seeing a significant yen weakening trend at the moment but will feel more comfortable about USD/JPY going back to the 105-110 range if 10-year Treasury yields climb more significantly from hereon.

Is the silver trade looking to switch back up again?
SLV saw a record amount of daily inflows worth nearly $1.6 billion yesterday (h/t @ daniburgz) despite the 9% drop in silver prices yesterday. That might be a sign that there is still strong appetite for silver despite the retreat after hitting $30 earlier in the

Latest data released by Eurostat – 3 February 2021
As mentioned , this shouldn’t change a thing in terms of the ECB outlook as the jump in inflation owes to a host of special circumstances to start the year. In any case, expect more volatility in the numbers to follow in the coming months as well.

Latest data released by Eurostat – 3 February 2021

HSBC argues to look past the RBA surprise decision today
The firm says that while it was a surprise that the RBA announced a QE extension today, it simply „mirrors similar commitments by other G-10 central banks, including the Fed, and should therefore not be a significant long-term driver of the currency“.

The short dollar squeeze is starting to take a look at some key levels
A firm break/close below that region will set sellers up for a potential retest of 1.2000 and possibly the 100-day moving average (red line) @ 1.1962 next.

State of emergency extended for 10 prefectures
This just formalises the earlier confirmation .
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Latest data released by Eurostat – 2 February 2021

Scotiabank argues that the ECB is running out of options to stem further strengthening in the euro currency
The firm says that the rise in EUR/USD since March last year has prompted „what resembles a campaign to implicitly cap the currency“ but that won’t be enough.

Kyodo News reports on the matter
This just rebuffs the reports from the end of last week and over the weekend. The announcement is likely to come tomorrow as the current state of emergency protocol is set to carry on until 7 February.