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EUR/USD and EUR/GBP moved sideways yesterday
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now trading slightly above the Kumo. An upward wave would lead the exchange rate to retest the previous top. A failed attempt to move higher will push prices to enter the cloud.
European Market View
Markets are awaiting Fed governor Powell's speech on Friday at Jackson Hole.
In the meantime, in the US durable goods orders will be released today, which is the best investment indicator of the US economy.
US stocks edged up at new records yesterday, while the session in Europe was more muted. Sector performance very aligned between the two regions though, as investors continued to buy the dip in the past week's sold sectors, including energy, consumer discretionary (the value part), materials and banks. Defensive sectors, such as health care, lagged. S&P went to new highs, up 0.2%, Dow 0.1%, and NASDAQ 0.5%. After days of massive catch-up, Asian markets are in small declines this morning. US futures also point to a muted opening.
In the FX space, EUR/USD and EUR/GBP moved sideways yesterday. SEK has had a rather strong start to the week with EUR/SEK moving towards 10.20.
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