Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
European futures are flat to slightly lower
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair has just breached the Kijun Sen level. Further bearish sentiment will push prices into lower ground.
European Market View
U.S. stocks tumbled as the rotation away from super-charged technology shares picked up pace. The Nasdaq 100 lost more than 5%, its biggest fall since March, having gained in 11 of 13 sessions prior despite cries of stretched valuations. The rout was even more brutal in the options market.
European futures are flat to slightly lower.
It's non-farm Friday. Today's U.S. jobs report could deliver the last positive print before losses strike again. Private-sector payrolls, as reported by ADP, showed a much weaker-than-expected pace of hiring last month. The latest statistics suggest companies continue to hire at a more moderate pace than immediately following the lifting of business lockdowns months ago.
U.S.-China relations remain on the radar, with President Xi Jinping setting a combative tone in latest remarks.
Elsewhere, we'll get a reading of the U.K. construction purchasing managers index as well as German factory orders after data Thursday showed the euro area’s recovery ran out of steam during the third quarter.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?