Best Trade Ideas for April
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Equity futures edged higher Tuesday morning
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now trading between the Tenkan sen and Kijun sen level. A failed attempt to move lower will push prices above the Tenkan sen level. Further bullish sentiment would lead the exchange rate into fresh highs.
US Market View
Equity futures edged higher Tuesday morning following a broad-based rally on news that U.S. regulators granted full approval for Pfizer-BioNTech’s Covid vaccine.
Futures on the Dow Jones Industrial Average rose 65 points. S&P 500 futures and Nasdaq 100 futures traded in positive territory.
The market started the week on a high note as shares sensitive to an economic recovery jumped on optimism that the vaccine approval would clear the path for more mandates in the face of the spread of the delta variant.
In the equity markets, participants are eyeing the Jackson Hole symposium later this week, which is expected to be a market-moving event where central bankers could detail their plans for tapering monetary stimulus. The Federal Reserve has initiated discussions to pull back its $120 billion a month bond-buying program by the end of 2021.
The second-quarter earnings season is winding down with more than 90% S&P 500 companies having reported results. S&P 500 is poised to grow its earnings by 94.7% YoY.
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