Updated: Mar 22, 2021
This is the Economic GPS Insight Report
I'm Thaddeus Cummins
Today is Mar 12 Friday 10:00 AM NY, NY, USA
#Yen Index - USD/JPY, GBP/JPY, EUR/JPY
The US dollar climbs to 109 versus the Yen as the British sterling climbs to 152 and then drops back to 151.5. The Euro is in a trading pattern versus the Yen near 130. Price action suggests central banks are not immediately concerned about inflation potential of US $1.9 trillion relief package. Initial actions taken by the global senate of central banks support US relief expenditures.
As more US governors start opening their states' economies trends suggest COVID could be whipped by summer 2021.
Hawaii flooding requires evacuations and officials believe this is climate change. City of San Antonio sues Texas power grid operator for excessive billing after climate cold snap.
Wealthy countries use resources more efficiently and are endowed with natural resources unique to their land, labor, and know-how. The geopolitics of shipping and resource use will shape global trade as China and India are growing faster than western powers.
#Economic Calendar News
Good news heading into the weekend with US consumer confidence strong and Canadian employment much better than expected. German inflation is flat and England's GDP is showing improvement.
#Technical USD/JPY on the One Hour Chart
MACD forming bear cross with price action remaining above 200 day moving average and short hammers with USD/JPY resting at 109 fractal.
This is Thaddeus Cummins looking forward to your continued success and don't forget to be awesome. Good day!
"Meditate on the Good. The Math will Follow"