Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EURUSD moved sharply lower after the ECB meeting
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Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now trading into fresh highs. Further bullish sentiment will lead the exchange rate into higher ground. On the other hand, a correction course will push the market below the Tenkan sen level, targeting the Kijun sen level.
The Bank of Russia looks like is ready to continue to cut its key interest rate following the cut to 17% on April 8th, despite inflation that accelerates. Central Bank Governor Elvira Nabiullina hinted at this on Monday.
In the equity front, US stocks were without direction on Monday and the sector performance quite even, but with a slight preference for growth cyclicals. Reflation winners, as materials and energy, continued to outperform. Dow Jones closed marginally lower -0.1%, S&P500 was unchanged and NASDAQ also -0.1%.
In the FX space EURUSD moved sharply lower after the ECB meeting and is now trading below 1.08. EURGBP declined below 0.83. Oil has risen from USD104/bbl. to now USD113/bbl.
In Japan, FinMin Suzuki repeated Bank of Japan governor Kuroda's worry about sharp yen moves this morning as a perfect storm of increasing global yields and high energy prices is weighing heavily on the yen. USDJPY hit a 20-year low this morning.
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
The stock market has reversed, and now it’s going lower and lower…
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