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EURUSD has moved back above 1.09
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading near the previous top. An upward wave would lead the exchange rate into fresh highs. Alternatively, a plunge of the market might bring the currency pair into a correction phase below the Tenkan sen level.
President Macron topped the first round of the presidential election and will face far-right Nationally Rally candidate Marine Le Pen in the run-off on 24 April. While Macron's first round lead (28%) over Marine Le Pen (24%) was bigger than he in 2017, polls point to a much narrower race for the second round (53-47%). With Macron's re-election far from assured, markets will keep a close eye on polls in the coming two weeks.
In the equity space, stocks ended marginally higher last week but once again driven by the value defensive universe. On Friday Dow Jones ended higher by +0.5%, S&P 500 lower -0.2% and NASDAQ -1.2%. Very large moves in yields continuing this morning taking both European and US futures lower. Markets in Asia lower as well with China tech leading the declines.
In the FX space last week was about the strengthening of dollar and a drop in EUR. However, on Sunday opening the single currency did mark a slight relief rally after Macron's win in the first round of the presidential elections in France yesterday. EURUSD has moved back above 1.09 while EURJPY was trading at 136.50 at the time of writing.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
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