Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Equity futures were marginally lower in early morning trading on Thursday
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now testing the lower level of the Kumo. A decisive movement to the north will lead the exchange rate within the cloud and even higher. A failed attempt to move higher will push the market to test again the previous low.
European Market View
The S&P500 gained as much as 0.9% Wednesday amid a 3.8% jump in the energy sector, posting its biggest daily increase since Aug. 27. The blue-chip Dow Jones advanced more than 200 points, while the tech-heavy Nasdaq Composite rose 0.8%.
After seven straight months of gains for the S&P 500 and a near 20% rally to records this year, many on Wall Street expect bumpier trading and lower returns for the rest of the year. History is also not in the market’s favor as September tends to be a typically negative month for stocks. The S&P 500 has fallen 0.56% during the month on average since 1945, according to data from CFRA.
Equity futures were marginally lower in early morning trading on Thursday following a rebound on Wall Street as the market tried to avert the seasonally weak September.
Futures on the Dow Jones Industrial Average shed 29 points. S&P 500 futures and Nasdaq 100 futures traded in mildly negative territory.
Investors will want to monitor the latest jobless claims data on Thursday. Economists polled by Dow Jones expect a total of 320,000 filed for unemployment benefits in the week ended Sept.11, slightly up from 310,000 in the week prior.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.