Best Trade Ideas for April
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Global equities continued to trade higher on Tuesday
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is now trading slightly above the cloud. Further bullish sentiment will lead the currency rate to retest the previous top. On the other hand, a plunge of the market will put pressure to enter the Kumo and even lower.
European Market View
Global equities continued to trade higher on Tuesday, marking a fifth straight day of gains in the U.S. Quality, growth stocks and defensives were the preferred themes as investors picked up last month's losers. Among sectors, health care, consumer staples and tech were in the lead. Dow Jones closed +0.6% higher, while S&P500 and NASDAQ +0.7%. Asian markets are mixed this morning and U.S. futures have dipped to negative territory.
In the FX space, reflation sensitive currencies like AUD, NZD and NOK remain the big outperformers in the G10 space at the expense of not least USD and JPY. EUR/USD remains above 1.16 while EUR/GBP is approaching new lows. In the EM space USDTRY remains at ATH.
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