I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
The negative tone is mostly continuing in Asia this morning
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now testing the upper level of the Kumo. A higher thrust of the market would trigger the currency pair to retest the previous top. A failed attempt to move higher will push prices to enter the cloud.
European Market View
In the equities space the week started off in the red. Risk appetite took a beat as well, visible in the cyclical value trade changing to a defensive/value trade. The energy sector was the best, along with utilities and consumer staples. The FANMAG, medtech and semiconductors were hit hard yesterday, which brought NASDAQ -2.1% lower. Those levels have not been seen since mid-June. S&P 500 was a bit better off, down -1.3% while Dow -0.9%. Implied volatility slightly higher with VIX at 23. The negative tone is mostly continuing in Asia this morning with Japan dropping -2% and thus nudging at correction territory. Optimism is creeping back in the US though, with futures slightly higher.
In the FX space, rising interest rates amid a cyclical slowdown and rising energy prices is the perfect storm for a capital flow reversal in EUR/USD.
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