Best Trade Ideas for April
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The dollar suffered losses against the rest of G10 yesterday
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is trading within the cloud. If the bulls manage to withstand the sellers’ pressure, the currency pair will exit the Kumo. The market will attempt to reach the previous top. Alternatively, a plunge of the exchange rate will push prices below the cloud, with immediate target the previous low.
Market View
It seems that equity markets did not mind the high US inflation print as bond yields dropped slightly following the CPI release. SP500 ended the day up by +0.3%. In Asian trading markets are calm this morning, although showing small declines. The SP500 future is down -0.2%, Hang Seng marginally lower and Nikkei also down by -1.0%.
The dollar suffered losses against the rest of G10 yesterday even as the high US CPI inflation print means tightening of US monetary policy.
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