Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
The black gold looks set for the first weekly rise in three weeks
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair has breached the Tenkan Sen level. Further bearish sentiment will push prices into lower ground.
European Market View
- ECB clearly acknowledged the recent weakness in European macro and sees downside risks. Subsequently, EUR/USD went lower to mid 1.16's.
- Global stock markets are on track for the worst week since March amid political uncertainty on US fiscal easing, COVID-19 resurgence and the return of restrictive measures across Europe. Futures are back in 'red' this morning following a few disappointing tech earnings reports after the US closure.
- As far as COVID-19 is concerned, Europe continues to move in the wrong direction at a rapid pace and new cases are running close to 200,000 per day.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
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?