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GBP/USD rallied towards 1.36
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now testing the upper level of the Kumo. A higher thrust of the market will lead the exchange rate to exit the cloud with bullish implications. Alternatively, further drop of the rate will push the market deeper in the Kumo.
The sector rotation was very evident last week, with banks outperforming tech. Such sharp rotation has not been seen in a week since March 2021. Valuation has been the main theme, while the segregation between defensive and cyclicals has played a less crucial role. Energy stocks and banks gained 1.5%, while tech and consumer discretionary sold off 1-2%. Dow Jones closed unchanged, while S&P 500 was down -0.4% and NASDAQ -1%. Asian markets are trading slightly higher. US futures are also a bit higher as investors are buying the dip.
In the FX space, EUR/USD touched briefly the 1.135 level and GBP/USD rallied towards 1.36 as the dollar took a hit following mixed news on the US jobs market.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus