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Tech stocks added 2.1% to lead gains

Tech stocks added 2.1% to lead gains

Information is not investment advice

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Ichimoku Kinko Hyo

CHF/JPY: The CHF/JPY pair is now poised to test the lower level of the cloud. If the bulls manage to take control of the bears, the currency pair will enter within the Kumo. On the other hand, a reversal back would push prices to retest the previous bottom.

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Market View

After market sell off on Monday, global markets will focus on the latest U.S. inflation data due out this week; the U.S. consumer price index is set for release Wednesday and the producer price index for Thursday. Global investors will be looking for any clues from Fed officials as to the timing of interest rate hikes too; Federal Reserve Chairman Jerome Powell’s confirmation hearing will take place on Tuesday.

The European Stoxx 600 gained 0.9% in early trade, mostly recouping the 1.3% decline by Monday’s close. Tech stocks added 2.1% to lead gains as all sectors and major bourses entered positive territory.

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