The dollar suffered losses against the rest of G10 yesterday
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is trading within the cloud…
EURUSD is trading again slightly below 1.13
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now poised to exceed the cloud. If that happens, the next resistance is seen at the previous peak. On the other hand, a failed attempt to surpass the upper level of the Kumo will push prices further lower within the cloud.
Market View
Risk-off sentiment re-emerged on Monday driving equities lower. Rate sensitive defensives the only winners, with health care, utilities, consumer staples and real estate higher. Tech, energy and consumer discretionary in the other end, selling off. Major indices closed as follows: Dow Jones and S&P500 down -0.9% and NASDAQ -1.4%. Asian markets are following the move lower this morning, with the Chinese real estate sector weighing on market sentiment. U.S. futures have turned slightly positive.
In the FX front yesterday's session was characterised by currencies that do well in times of uncertainty namely USD, JPY and CHF. EURUSD is trading again slightly below the 1.13 level this morning.
Michael Eliades
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The year started only a couple of weeks ago, but we already have a lot of fascinating movements in various trading instruments. To help you in trading, we choose several forex pairs that may surprise you and plunge greatly in a short period.
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