Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EUR/USD temporarily touched 1.19 on Friday
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now testing the upper level of the Kumo. An upward wave would lead the exchange rate to retest the previous top.
European Market View
The week starts quietly as it is a Labor Day in the US today, so markets will be closed.
US jobs report disappointed last Friday, with payrolls print at 235.000 for August. This was clearly an unwanted surprise for the FED which has been talking about tapering asset purchases at one of the upcoming meetings (e.g. in September). As it is almost very difficult to guess, which way the Fed will choose to interpret weak job creation, the impact on the dollar from expectations to future fed policy will also be very hard to predict in the near term. There is a real risk Fed may wish to sound a tad more dovish until jobs accelerate again.
In the equity front, Friday ended on a slightly weaker note, weighed down by the huge job miss. Tech and growth took the lead as markets discounted a dovish interpretation for Fed. Tech, communication services and health care were the winners for the day, while utilities, materials, industrials and financials sold off. S&P recouped the initial losses and ended unchanged, NASDAQ rose 0.2% and Dow Jones -0.2%. In Asia this morning, markets are up 1-2% led by Japan. US markets will be closed for holiday and futures only see small movements.
In the FX space, EUR/USD temporarily touched 1.19 on Friday after the job growth in US disappointed. The pair currently is trading about 30pps lower than the 1.1900 mark.
Similar
EURGBP rose on dovish BoE
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
The highlight for markets today will be the FOMC meeting
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Popular
British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Indices and Stocks in the Red
The stock market has reversed, and now it’s going lower and lower…
Walmart earnings outlook
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Choose your payment system
