Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Dow Jones closed unchanged in the previous session
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now testing the upper level of the Kumo. If the bulls manage to withstand the bears’ pressure the currency pair will move higher towards the previous top. A drop of the market will push prices to move within the cloud.
Market View
In the equities space, rotation was substantial, with best performing sectors to be the financials beating worst performing tech. Major U.S. indices closed the day as follows: Dow Jones closed unchanged, S&P500 down -0.9% and Nasdaq down by -2.5%. Asian markets are following the move lower this morning and U.S. futures point for a lower opening on Friday.
In the FX space, EURGBP dipped below 0.85, as the Bank of England surprised by hiking 15bp to 0.25%. The cross moved below 0.846 but recovered later after a more hawkish ECB message and souring risk appetite. In the EM front Turkey’s Central Bank cut its repo rate by 100bps to 14% sending the lira against the dollar north of 15.
Similar
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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