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Equity markets closed mostly on the green on Thursday
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading within the Kumo. Further bullish momentum will trigger the market to exit the cloud with further bullish implications. Alternatively, a failed attempt to move higher will push prices to move out of the cloud, with immediate target the Tenkan sen level.
European Market View
Equity markets closed mostly on the green on Thursday in an uneventful session. As yields ticked lower, the theme of the day was growth stocks outperforming value stocks. Sector performance was well known from last year, with semiconductors and consumer discretionary leading the way while financials came under pressure. Dow Jones inched lower -0.1%, S&P 500 closed up by 0.4%, and NASDAQ up 0.8%. US futures are unchanged this morning and Asian markets mostly lower.
Oil prices dropped after OPEC decided to go ahead with its output hike as planned. As it was broadly expected, the EURGBP moved higher on Bank of England. In the EM space, USDTRY slowly but steadily is moving higher and is again above 9.70.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus