Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD dropped further yesterday
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now testing the Kijun sen level. If the pair manages to withstand the bears’ pressure, it will climb higher towards the previous top. A break back below will push prices to find support at the upper level of the Kumo.
European Market View
Gas prices surge in Europe took a breather yesterday after comments from President Putin that Russia was willing to send more gas via Ukraine than contracted this year, sending prices down nearly 7%. However, European governments are growing increasingly concerned that the fast rise in energy prices could endanger an already fragile recovery.
In equities, the day started in risk off, however market sentiment gradually improved on Wednesday. European markets lower, but US gradually higher and even managed to close the day in green as investors bought into utilities, real estate and consumer staples. Health care were among the worst performers together with materials and energy. All in all, defensives were generally in favour and growth beat value. S&P 500 rose by 0.4% and is now slightly up for the week, NASDAQ 0.5%, and Dow Jones 0.3%. Sentiment is rebounding in Asia this morning too, with indexes in the area of 1-2.5% as investors buy the dip in tech. Optimism extending into the US, with futures signalling another day in the green.
In the FX space, EURUSD dropped further yesterday and risks remain to the downside. The first RBNZ hike in 7 years did not end up being a major catalyst for NZDUSD.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
The CAD vs. the World: Mid-Term Scenarios for the Currency
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
Fed Keeps Pushing USD to 2000s Highs
The US dollar index has all chances of reaching the 2000s high of 120.00.
Gold isn't saving investors from inflation
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?
Choose your payment system
