Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
NASDAQ posted fresh record closes
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now trading slightly above the cloud. An upward wave would lead the pair to eliminate the Tenkan sen and Kijun sen level, pushing the exchange rate to retest the previous top. Alternatively, a plunge of the market will lead the currency pair to enter the Kumo.
European Market View
This week's main event will be the FOMC later this week. It should be expected that the Fed will announce QE tapering and that it will start tapering immediately with a tapering pace of USD15 billion per month.
In the equities space, markets finished October quite strong as US stocks once again led market higher. NASDAQ posted fresh record closes and capped their fourth-straight week of gains. In terms of sectors, growth outperformed value for the fifth consecutive day. In U.S., Dow Jones ended higher by +0.3%, S&P 500 by +0.2% and NASDAQ by +0.3%. Positive sentiment continuing in Asia this morning led by Japanese equities. European and U.S. futures broadly higher this morning.
EURUSD lower than 1.1600 again, mostly on stronger dollar. As for GBP crosses, focus turns to the meeting of Bank of England.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.