Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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.
Market View
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.
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