Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD was volatile yesterday
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now testing the upper level of the cloud. Any decisive movement to the north will fuel the pair towards the previous top. Alternatively, a plunge of the market will push prices to enter the Kumo.
Equity markets ended higher again yesterday in a roller-coaster session. Additionally, as Omicron data shows that it is creating less severe illness, leisure and travel stocks got a lift. In the US, Dow Jones ended higher +0.6%, S&P 500 -0.1% and NASDAQ -1.3%. Asian markets are mostly lower this morning with Chinese tech shares in focus. The more value intense Japanese stocks are doing better. Futures in Europe and US are lower this morning.
EURUSD was volatile yesterday but ended the day below 1.13 while currently it tries to climb higher. EURNOK dropped below 10.00, mainly due to higher oil prices. USDJPY moved above 116 supported by higher US yields.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.