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 slipped back below 1.13
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now testing the upper level of the Kumo. An upward wave would lead the exchange rate to retest the previous top. If the bears manage to withstand the bulls’ pressure, the market will move lower with bearish implications.
Market View
Equity markets started the week on a strong note as a narrative of a less deadly covid-19 variant – the Omicron – is developing. The recovery yesterday lifted some of the hard-hit sectors such as consumer service. Volatility dropped a tad, however VIX still remains at 27 and small cap equities outperformed large cap. Growth and momentum stocks still struggling as with value outperforming for its fourth consecutive day. Major indices in the U.S. closed the first day of the week as follows: Dow Jones up by +1.9%, S&P 500 +1.2%, and NASDAQ +0.9%. Optimism continues to form in China this morning with Japan’s Nikkei 225 and Chinas Shanghai index sharply higher. Both European and U.S. futures are pointing to a positive opening.
In the FX space, as risk appetite returned into the markets yesterday AUD, CAD and NOK, got a lift higher vis-à-vis CHF and JPY. EURUSD slipped back below 1.13, while USDJPY is the between 113.50 and 114.
Michael Eliades
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3 Forex Pairs to Trade Right Now
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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