Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
GBP/USD is now poised to test the resistance level at 1.31632
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading between the Kijun sen and Tenkan sen level. A downward wave would open the way down towards the previous low and further down. Alternatively, a break through the Kijun sen level will push prices into further correction.
Market View
The European Stoxx600 drifted around the flat line in early trade, with travel and leisure stocks gaining about 1% while telecoms dropped 0.6%.
The ECB will announce its latest monetary policy decision at 12:45 p.m. UK time. Markets are not expecting any change in interest rates just yet, but widely expect the Governing Council to adopt a more hawkish tone and lay the foundations for policy tightening over the summer, with euro zone inflation running at a record high.
Investors in Europe are also monitoring the invasion in Ukraine. A Russian missile cruiser was attacked and damaged by Ukrainian forces in the Black Sea early on Thursday, forcing the entire crew to be evacuated.
U.S. President Joe Biden announced another $800 million in weaponry for Ukraine on Wednesday, following an hour-long phone call with the country’s president, Zelenskyy.
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