Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Equities were weaker yesterday
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is trading between the Tenkan sen and Kijun sen level. A drop of the market would push the market into fresh lows. Alternatively, a higher thrust of the currency pair would lead the exchange rate above the Kijun sen level, targeting the lower level of the Kumo.
In terms of data releases today, we have the flash PMI from the U.S., United Kingdom and euro area.
Equities were weaker yesterday. The slow but steady grind in yields Monday triggered a reversal of the rotations that was evident Friday. Banks and value stocks came back into favour as well as energy stocks. The VIX index moved higher for the fourth day in a row closing north of 19 yesterday. Major indices in the U.S. closed as follows: Dow Jones marginally up +0.1%, S&P 500 lower by -0.3% and NASDAQ -1.3%. Asian markets are mostly red this morning with Hang Seng - once again - leading the market lower. European and US futures down as well this morning.
In the FX space, yesterday was overall a quiet day, with EURUSD moving even lower, trading closer to 1.1230 at the time of writing. EUR/GBP, EUR/NOK and EUR/SEK all moved sideways.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.