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Equity markets ended on a lower note on Friday
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now testing the Tenkan sen level. A break back below this level will lead the currency pair into fresh lows. Alternatively, an upward wave will trigger the market above the Kijun sen level and even higher towards the lower level of the Kumo.
The spreading of the Omicron variant of the COVID-19 virus across Europe has initiated renewed restrictions and renewed lockdowns. This weekend, the Netherlands entered national lockdown closing all non-essential shows until 14 January.
Equity markets ended on a lower note on Friday, recording a decline for the week. Friday’s rotations in sectors and styles were not as clear as the previous days but still some fly to safety in defensives while the fear index VIX was moving higher. Large cap stocks outperformed small cap and momentum stocks. Major indices in the United States closed as follows on Friday: Dow Jones down by -1.5%, S&P 500 -1.0% and NASDAQ -0.1%. New challenges occurring over the weekend and Asian markets are painted in red this morning. European and U.S. futures are indicating a negative opening of cash markets down 1-2%. Stoxx 600 is currently down -2.3%.
In the EM space the Turkish lira (TRY) continues to plunge this morning after President Recep Tayyip Erdogan reaffirmed during the weekend his commitment to lower rates. Currently the lira against the dollar trades at 17.40, while only a month ago was trading at 11.00.
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