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Global equities down 2% yesterday
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Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is set to eliminate the previous top. If that happens, the currency pair will reach fresh a high. Alternatively, a reversal back would push the market below the Tenkan sen level, towards the upper level of the Kumo.
The combination of higher energy prices and a weaker growth outlook put central banks in a tough spot. Yet with inflation spiking above most inflation targets and inflation expectations moving to decade highs in many countries most central banks have clearly indicated forthcoming tightening of monetary policy.
Global equities down 2% yesterday and down 5% in the last 5 trading sessions. Consumer discretionary and tech stocks were the two biggest losers and earnings reports yesterday did not make things any better. Yesterday in US, Dow Jones closed -2.4%, S&P 500 -2.8% and NASDAQ composite -3.9%. Markets in Asia this morning looking somewhat better with Chinese stocks slightly higher while most other markets lower. European futures slightly lower while US once slightly higher.
In the FX space, EURUSD moved lower that 1.06 this morning. JPY rebounded further yesterday but has lost most of the gains this morning.
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