Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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.
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.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.