Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD climbed towards 1.07
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now trading within the Kumo. Should the pair manage to withhold the sellers’ pressure, CHF/JPY will climb towards the upper level of the cloud. Alternatively, further bearish sentiment will push prices deeper in the Kumo.
Equities moved higher yesterday Monday, with the banking sector, standing out, rising 3% globally. The outperformance in banks yesterday more or less driven by JP Morgan. This should hardly come as a surprise after yields have been skyrocketing and credit demand has been soaring in 2022. Dow Jones closed +2.0%, S&P 500 +1.9% and NASDAQ +1.6%.
Wall Street euphoria was not carried over to Asia this morning, where markets are led lower by China. US and European futures are lower this morning with growth/tech names dragging down.
In the FX space JPY and USD were the biggest losers. EUR/USD climbed towards 1.07.
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
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Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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