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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.
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