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Stocks were moderately higher on Tuesday
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now trading slightly above the cloud. If the pair manages to withstand the sellers’ pressure, will fuel the pair to test the previous top. On the other hand, a downward wave would push the pair within the Kumo.
European Market View
Today's main event will be the FOMC meeting, where is expected that the Fed will announce tapering of their QE asset purchases. Tapering is expected start immediately in November with a pace of USD 15 billion per month, and with risks tilted towards a faster pace. The reaction in EURUSD to tonight's FOMC meeting may be volatile but spot is likely headed lower.
As for the Bank of England meeting, a dovish BoE may send EURGBP higher.
In the equities space, stocks were moderately higher on Tuesday, which was enough to tick in on new all-time highs. The inflation trade reversed somewhat with growth and quality among the outperformers, such as tech and health care. Dow Jones and S&P 500 closed up 0.4%, and NASDAQ 0.3%.
This morning, U.S. futures point lower in line with Asian markets down between -0.5% and -1%.
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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