Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD remains in the area of 1.1350
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is now testing the upper level of the cloud. An upward wave would lead the exchange rate above the Kumo with bullish implications. A failed attempt to move higher will push prices further down within the cloud.
Equity markets retreated somewhat on Thursday, with most markets recording slight declines. Defensives and growth outperformed, while value cyclicals such as materials and banks lagged. Major US indices closed the day as follows: S&P 500 closed up 0.3%, Dow Jones -0.2%, and NASDAQ 0.5%. Asian markets are rebounding this morning. On the other side of the Atlantic, US futures point higher as well.
In the FX space, yesterday's session was characterised by the rate cut-induced sell-off in TRY and also reflation sensitive currencies, MXN, NOK and ZAR posting losses. Turkish Central Bank cut its one-week repo rate by 1 percentage point to 15% sending USDTRY to 11.29. EURUSD remains in the area of 1.1350.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.