Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Equity markets traded lower again yesterday
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now trading below the cloud. Any decisive movement to the south will push prices down to fresh lows. On the other hand, an upward wave would lead the exchange rate to enter the Kumo.
Equity markets traded lower again yesterday but, in a bit, more volatile session where both the U.S. and Europe were in positive territory during the day. Better performance in cyclical stocks yesterday and small cap was holding up better as yields finally took a pause on back of the US CPI number. Volatility Index VIX a tad lower as well.
Asian markets are higher this morning with relative strong gains in both Japan and South Korea. US futures are higher while European once are lower this morning.
In the FX space the US CPI brought setback to USD proved short-lived with the dollar index posting new highs and EURUSD reaching new lows just north of 1.08.
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.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?