Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Equities started September on a positive note
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: CAD/JPY surged in today’s session and managed to enter within the cloud. Further bullish momentum will lead the exchange rate to exit the Kumo, with more bullish implications. A failed attempt to move higher will push prices to a retracement down to the Tenkan sen level.
European Market View
Equities started September on a positive note with gains in most regions and across most sectors. Energy and materials the only sectors lower as metal and oil price fell yesterday. Growth and small cap stocks outperformed as the sweet spot for equities got more support from macro data yesterday. Asian stocks mixed this morning as China on the one hand continues to crack down on big tech while the PBOC on the other hand softened a bit by making more low-cost funding available for SMEs. European and US futures are slightly lower this morning.
The OPEC agreed to proceed with its existing plan for gradual oil supply increases, as ministers ratified the 400,000 barrel-a-day output hike scheduled for October. Oil price increases have been an important global inflation driver this year, but despite the planned supply increase, oil prices were little changed on the announcement, with Brent holding steady at USD 71.3 per barrel.
In the FX space, the dollar pulled back yesterday, while commodity and industrial sensitive currencies gained. The terms of trade impact from rising metal prices have hit JPY somewhat in recent sessions and also EUR/CHF has edged higher this week.
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?