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S&P500 ended the day lower by -1.1%
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The CAD/JPY pair is trading within the Kumo. If the bulls manage to withstand the bears’ pressure, the exchange rate will eliminate the upper level and the market will attempt to reach the previous top. Alternatively, a plunge of the currency rate will push the pair further down with bearish implications.
Initial jobless claims in and United States today and it will be interesting to see what follows after last week's decline below 200,000.
The equity markets looked like rebounding yesterday but soon turned into risk-off in the US session as the first Omicron case had been detected in the country. Reopening plays were naturally among the worst performers in the US session. Value stocks and defensives held up relatively better, although most sectors sold off. This brought S&P500 ended the day lower by -1.1%, Dow Jones -1.3% and NASDAQ -1.8%. The fear index, VIX shot up further, ending north of 30. This is the highest print in implied volatility since January this year. Trading in Asia this morning is without any clear direction, while in the US futures have turned slightly positive.
In the EM front, Turkey’s President Recep Tayyip Erdogan abruptly replaced his finance minister amid deepening rifts in the administration over aggressive interest-rate cuts that have undermined the currency and fuelled inflation.
Turkey’s lira, already trading near record lows against the USD, weakened after the announcement on growing concern over Erdogan’s economic policy and the removal of officials who disagree with his priorities. The currency slipped as much as 2.1% Thursday and was trading 1% lower at 13.38 per dollar earlier this morning. Worth noting that the lira has lost more than 80% against the dollar since Jan 1st.
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