Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD is trading in the 1.1830 area
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now testing the upper level of the Kumo. A failed attempt to move in the cloud will trigger the market above the Kijun sen and Tenkan sen levels, pushing the currency pair into fresh highs.
European Market View
After the weak US labour market report on Friday, markets will keep an eye on any hints on tapering from NY Fed President John Williams later this evening. Later this week, a host of Fed speakers are scheduled for public appearances and these are likely to guide the market ahead.
In the equity space, developed markets were mostly in the red yesterday, as growth took the lead in an uneventful session. Performance between cyclicals and defensives was thin, with both industrials and health care among the big decliners, and communication services and consumer discretionary among the better sectors. US indices were mostly lower with S&P 500 losing -0.3%, Dow -0.8% and NASDAQ 0.1%. Asian markets mostly muted while Nikkei225 is the exception as it continues to rebound.
In the currency market USD and NOK rose vis-à-vis CAD, AUD and NZD yesterday. EUR/USD fell further and this morning is trading in the 1.1830 area.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
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.