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EURUSD is little changed this morning
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading slightly below the Tenkan sen level. An upward wave would lead the pair to eliminate Tenkan sen and Kijun sen level, targeting the previous top. Alternatively, a plunge of the market will lead the currency pair to find support at the upper level of the Kumo.
Market View
The US President Joe Biden and leaders of the G7, NATO and EU are meeting in Brussels tomorrow and they are expected to announce a new round of sanctions against Russia.
The positive correlation between yields and equities continued, with equities posting gains again on Tuesday. Value names outperformed growth by around 0.5pp globally despite the US 10y breaching 2.40%. Both financials, consumer discretionary and communication services were leading. Dow Jones advanced by 0.7%, S&P500 ended higher 1.1% and NASDAQ 2%. Asian markets are continuing its rebound and US futures point slightly upward.
In the FX space EURUSD is little changed this morning, while USD/JPY continue to see upwards pressure and is trading above 120.50.
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