EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
European and Asian equity markets are recovering this morning.
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now testing the upper level of the Kumo. Any successful attempt to move higher will fuel the pair towards the Kijun sen level and even higher towards the previous peak. On the other hand, a reversal back would lead the market deeper within the cloud.
Market View
As the crisis continues in Turkey, yesterday USDTRY dropped from about 18.30 to 12.50 in a matter of hours. Finally, it settled at around 13.40 which marks a drop of about 30%. The drop came as a result of President Erdogan’s offering to floor lira deposits at zero percent returns again some other currency. There are not many details out in the media of how this offering will work, and if it has any material effect in the currency, remains to be seen.
In the equities space, markets dropped yesterday as Omicron cases are rising rapidly. In the United States, Omicron cases account about 73% of the total whereas only a week ago they accounted for 3%. It is important to mention that markets closed far off day lows and futures market shows that most of yesterday’s losses have been regained. Major indices in the U.S. closed as follows: Dow Jones down 1.2%, SP500 down -1.1% and NASDAQ down -1.2%. European and Asian equity markets are also recovering this morning.
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Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
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EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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