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EUR/USD rebounded back towards 1.16
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is surging into fresh highs. Further bullish sentiment will fuel the pair even higher. A reversal movement will bring the currency pair into a correction phase.
European Market View
In the equities space risk appetite returned at full strength on Thursday with most markets were trading significantly higher. The inflation trade reversed and in its place growth and long duration led the gains. In the other side of the Atlantic, S&P500 closed higher by 1.7%, Dow Jones jumped 1.6% and the technology index NASDAQ 1.7%. Besides growth intense sectors (tech, communication services), materials was the standout as commodity prices are rallying. Implied volatility dropped substantially, with VIX Index now at 18 which is the lowest level since September. The sentiment is continuing into this Friday, with strong gains in Asia and US futures higher.
In the FX space USD reversed lower on broad basis past couple of days. EUR/USD rebounded back towards 1.16 and GBP/USD to around 1.37. On the exotics, it’s worth noting that the USDTRY is well above the 9.00 mark which makes the TRY the worst performing currency in 2021.
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