EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
Global equities down 2% yesterday
Information is not investment advice
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.
Market View
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.
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EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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