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Equity markets moved higher yesterday lifted by U.S.
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now trading within the Kumo. An upward wave would lead the pair to exit the cloud, targeting the previous top. Alternatively, a plunge of the market will push prices out of the cloud with further bearish implications.
European Market View
Equity markets moved higher yesterday lifted by U.S. were both S&P 500 and NASDAQ printed new record highs. Gains in U.S. stocks very broad based while defensive outperformed in Europe. Small caps did a strong comeback yesterday despite growth continued to outperform value. In the U.S., major indices closed as follows: Dow Jones up 0.7%, S&P 500 up 1.0% and NASDAQ up by 1.4%.
However, the positive sentiment from the U.S. markets has not continued to Asia this morning where indices are lower including Hong Kong’s Hang Seng. U.S. futures are lower this morning, especially the NASDAQ index has been dragged lower after heavy weight companies Amazon and Apple announced disappointing earnings results.
In the FX space, markets had a difficult time interpreting the ECB, but eventually EURUSD moved higher in line with higher European rates. EURUSD is now trading closer to 1.17. EURGBP also moved higher and is currently trading closer to 0.85.
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