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European markets set for higher open following the Wall Street’s trend

European markets set for higher open following the Wall Street’s trend

Information is not investment advice

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Ichimoku Kinko Hyo

GBP/JPY: The GBP/JPY pair is now testing the lower level of the Kumo. A plunge of the market will push the exchange rate to exit the cloud, pushing GBP/JPY into lower ground.

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European Market View

In Europe the industrial production for June is expected to be constrained by global supply issues despite strong demand. European markets set for higher open following the Wall Street’s trend.

In the Asia-Pacific stocks edged higher on Wednesday, again following the previous gains of U.S. major indices. Oil stocks in the region also increased due to higher oil prices.

In the United States some attention will be given to the Producer Price Inflation. If the actual result is greater than forecast is considered as good for the U.S. dollar.

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