EUR/USD trades just north of 1.17
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now testing the upper level of the Kumo…
EUR/USD moved back below 1.1900
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is trading within the cloud. An upward wave would trigger the market to exit the Kumo, leading the pair into higher ground.
European Market View
In terms of financial data today, the most important release the U.S. ISM manufacturing index. On Thursday will be the Bank of England meeting, and finally on Friday the US nonfarm payrolls report as the FOMC. Analysts expect a bit less than one million new nonfarm payrolls.
In the equities space risk appetite is picking up again this morning. Most major Asian equity indices are trading in green and US/European equity futures are up by roughly half a percent this morning.
In the FX space, after a Fed induced relief rally to reflation sensitive currencies Friday marked a reversal to USD strength and Scandi weakness. EUR/USD moved back below 1.1900.
Michael Eliades
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