I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
Oil price dropped another 5%, down 20% the last five trading days
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now trading slightly above the Kumo. An upward wave would lead the exchange rate to surpass the Tenkan sen level, targeting the previous top. Alternatively, a plunge of the market will push prices within the cloud.
The key event today will be the FOMC meeting, where consensus and markets are pricing in a 25bp hike. The Federal Reserve will also release its updated economic and rate projections.
In the equity space, stocks were higher yesterday despite the big drop in Hang Seng index.
Oil price dropped another 5%, down 20% the last five trading days and hence one of biggest fears from financial markets fading. The move higher in US equities supported by lower oil price and stabilizing yields resulted in tech outperforming energy and hence growth outperforming value. In US Dow Jones closed higher by +1.8%, S&P 500 +2.1%, and NASDAQ +2.9%.
Relief rally in Asia this morning with all markets higher and Hang Seng leading the advances. However, even with the relief in tech stocks this morning leaves them 65% below the peak a year ago. US futures are flat while European futures were about 0.5% higher at the time of writing.
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