Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Oil has been stable at around USD130 a barrel over night
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is about to exceed an important resistance. A breakout would lead the exchange rate to hit the forthcoming level at 125.00. alternatively, a tumble of the market will push prices to find support at the upper level of the Kumo.
President Biden issued an executive order that the US will ban imports of Russian fossil fuels and investments in the Russian energy sector. The ban applies immediately for new orders and allows 45 days to wind down existing orders. Oil has been stable at around USD130 a barrel over night. United Kingdom also announced it will gradually stop the use of Russian oil by the end of 2022. Additionally, it plans to reduce its gas needs from Russia as well.
Fitch Rating Agency, cut Russia’s rating by 6 notches to C, just 1 step above borrowers who already been driven into default. Markets price the default probability at 84%. Fitch also warned last night that Russian bond default is “imminent” specifically referring to the decision to pay holders denominated in foreign currency to be paid in roubles.
In the equity space defensives sold off the most, while cyclicals and banks - and especially European ones - outperformed. Major markets in the US ended the session as follows: Dow Jones down by -0.6%, S&P500 -0.7% and NASDAQ -0.3%. US futures point slightly higher this morning.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.