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 remaining steady around 1.1800
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The CAD/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
Global markets were still digesting the comments from Powell on Friday. Equities continued to rise at the start of the week, on continued support from the monetary policy.
Asian markets are mixed this morning with Hong Kong lower as Chinese service PMI softened in August on the back of increased restrictions following spikes in the delta variant. European and US futures slightly higher this morning.
Global stocks were higher yesterday on the back of the dovish surprise from Powel Friday. With US 10 year yields dropping back below 1.3% growth stocks were the notable outperformer of value yesterday with large cap tech stocks leading the way. Banks have stayed behind at this point together with energy despite oil price ending higher. In US S&P500 posted the 12th record high for the month. The Dow Jones ended the day with -0.2%, S&P 500 +0.4%, and NASDAQ +0.9%.
In the FX space yesterday's session marked a fairly slow start to the week for FX markets with EUR/USD remaining steady around 1.1800.
Michael Eliades
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