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.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.