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Asian markets are following the rebound trail this morning
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is trading above the cloud. An upward wave would lead the exchange rate to exceed the Tenkan sen and Kijun sen level, targeting the previous top. Alternatively, a failed attempt to move higher will push prices to find support at the upper level of the Kumo.
On Tuesday equity markets rebounded, with European and US markets all higher. Growth stocks rebounded, with tech and consumer discretionary leading the way. The real estate sector did not follow the rest of the market higher, despite being one of the most sold sectors the last week. SP500 improved slowly over the trading session to finally close up +0.9%, Dow Jones closed +0.5% and NASDAQ +1.4%. Asian markets are following the rebound trail this morning, with Hang Seng higher by +2%. Futures in the US point slightly higher.
In the FX space the dollar weakened against most of the G10 yesterday, where Scandies and commodity currencies gained.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus