Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Equity markets were higher in Wednesday’s trading session
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now trading slightly above the cloud. Should the bulls manage to withstand the bears’ pressure will trigger the market above the Kijun sen level, targeting the previous top with further bullish implications. A plunge of the market will lead the pair within the Kumo.
European Market View
Equity markets were higher in Wednesday’s trading session, finishing near best levels as investors bought into the message from Fed. No clear direction among sectors or styles though, with cyclicals vs defensives and value vs growth tightly bunched. Dow Jones closed up by 0.3%, S&P 500 by 0.7% and NASDAQ by 1%. VIX index ticked lower, down to 15 which is a year-low. Asian markets are joining the sigh of relief this morning, with most markets higher around 0.5-1%. US futures are broadly unchanged.
In the FX space EURUSD moved a bit lower and currently trading in the area of 1.1550. Keep an eye on EURGBP for a possible move higher on a dovish Bank of England.
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.