Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Equity futures in the U.S. were flat on Wednesday
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The CAD/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 in the U.S. were flat on Wednesday as investors took a pause a day after the Nasdaq Composite closed above 15,000 for the first time.
Futures on the Nasdaq-100 were flat. Dow Jones Industrial Average futures gained 7 points. S&P 500 futures were also flat.
The NASDAQ Composite rose on Tuesday for the fourth session in a row to a record close of 15,019.80, bringing it year-to-date gains to more than 16%. Amazon led the gains on Tuesday. It was the NASDAQ’s 29th record close of 2021. The tech-heavy benchmark is now up more than 126% from its pandemic low. The S&P 500 also hit a record on Tuesday.
Markets have been boosted by signs that delta variant cases could be peaking.
The much-anticipated Jackson Hole symposium kicks off on Thursday, where central bankers will potentially provide updates on their plan around tapering monetary stimulus.
The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth.
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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Bulls Are Coming Back
The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
What to trade on June 20-24?
Last week was shocking! The US dollar gained more than 2% against other currencies ahead of the 75-basis points rate hike by the Federal Reserve on Wednesday but dropped after the announcement…
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