Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/NZD has just breached the key support level at 1.06799
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now testing the Tenkan sen level. A successful attempt to move higher will fuel the exchange rate into fresh highs. On the other hand, a failed attempt to exceed the Tenkan sen level will push prices to find support at the Kijun sen level.
Market View
Russia and Ukraine have expressed some optimism that peace talks have made progress and that results could materialize in the coming days. The fourth round of talks begins today. Over the weekend, Russia bombed a Ukrainian base close to the border of NATO member Poland. The target was supposedly weapons supplied by foreign nations.
The head of IMF Kristaline Georgieva said on Sunday, that 'we no longer think of Russian default as improbable' but added that it would not trigger a financial crisis.
Elsewhere, China is battling the biggest outbreak since the pandemic started, the major cities of Shenzhen and Shanghai have moved into partial lockdowns. China has reported more than 1,000 local cases in the last few days.
Bond yields ticked higher Friday and lifted value stocks. In US, Dow Jones closed lower by -0.7%, S&P 500 -1.3% and NASDAQ -2.2%. Asian markets very mixed this morning with Japan higher while China led by tech is selling off massively. European and US futures higher this morning as reports on Sunday said that both Russia and Ukraine were seeing some sort of progress in peace talks.
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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