Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Dow Jones logged gains for the first time in eight weeks
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now trading into fresh high. Further bullish sentiment will trigger the martket even higher. On the other hand, a plunge of the exchange rate would lead the market to find support at the Tenkan sen and Kijun sen level.
A bounce in U.S. stocks last week broke a seven-week losing streak for the S&P 500 and NASDAQ, while the Dow Jones logged gains for the first time in eight weeks.
These gains ended the longest weekly losing streak in over a decade for the S&P 500 after the index tip-toed into bear market territory. All three major US indexes logged weekly gains of at least 5%, lifted by a batch of positive economic data and more positively received earnings reports from the retail sector.
The S&P 500 has snapped a losing streak of this length only three other times in history — 1970, 1980, and 2001.
On this side of the Atlantic, overnight media reported that EU failed to reach a package revising its current sanctions, including a ban on Russian oil, as Hungary is refusing to back the proposal. Negotiations are set to continue today ahead of the special EU council starting tonight.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
Suddenly, the US Dollar Index fell 6.70% over the last two weeks, marking the biggest decrease in the currency since 2020.
The G20 summit took place in Bali, Indonesia, on November 2022…