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 weakness sent EURUSD solidly below 1.14
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is now testing the lower level of the cloud. If the buyers manage to withhold the sellers’ pressure, the market will enter the Kumo. A failed attempt to move higher will push prices to test the previous bottom.
Market View
Equities across the board were slightly changed on Monday. There was a slight preference for defensives and value stocks as the yield curve steepened. Major US indices close little changed with Dow Jones, S&P 500 and NASDAQ unchanged. Asian markets are grinding somewhat higher this morning, although US futures have dipped into the red.
In the FX space, the first session of the week was generally characterised by broad based EUR weakness with the single currency posting losses - especially late in the session - against most majors. On the other end, USD gained which combined with EUR weakness sent EURUSD solidly below 1.14000. USDJPY moving back above 114.00 In the EM space, the USDTRY trades steadily above 10.00.
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