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EURGBP rose on dovish BoE
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will fuel the pair towards the previous top. On the other hand, a plunge of the currency pair will push the market to test the lower level of the cloud.
After a rally in equities on Wednesday, markets plunged yesterday by between 4% and 5%. Equities came under a lot of pressure just at the opening bell, reversing the post-FOMC rally. All sectors were notably lower, but growth names were the standouts with tech, cars and semiconductors slaughtered. Cyclicals underperformed defensive stocks in a massive scale, as energy, consumer staples and utilities held up very well. Dow Jones closed lower -3.1%, S&P500 -3.6% and NASDAQ -5.0%. US futures are flat this morning.
As equities sold off broadly, yields rose and EURUSD fell back near 1.05. EURGBP rose on dovish BoE.
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Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus