EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
Friday's markets were in red
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is trading near the lower level of the Kumo. Any decisive movement to the south will push prices to exit the cloud, attempting to retest the previous low. On the other hand, an upward wave would lead the exchange rate towards the upper level of the Kumo.
Market View
The new variant of the virus that got the name Omicron starts to be of concern. The variant is spreading in many countries and already there are confirmed or suspected cases in the UK, Belgium, Italy, Germany, the Netherlands, Australia, Hong Kong and Israel –just to mention a few.
In the equity space, Friday's markets were in red, and risk-off sentiment was evident across equities, bonds and commodities, as Covid spooked markets yet again. It was a classic risk off session, with cyclicals clearly underperforming and VIX spiking at 30. Energy, autos and banks were hit the worst, with sharp declines in the -4% to -5% range. Regionally, Europe was hit the worst while on the other side of the Atlantic, major indices closed as follows: Dow Jones -2.5%, S&P 500 down -2.2%, and NASDAQ -2.2%. US futures are rebounding this morning, but Asian markets remain in the -0.5% range.
Similar
Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EURGBP rose on dovish BoE
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Popular
EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
How Will Amazon Price React To The Split?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
Can a recession be avoided?
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Choose your payment system
