Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
The positive sentiment in the US equity market continues
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now poised to enter the cloud. A failed attempt to move higher will push the market lower, confirming the bearish outlook.
European Market View
France announced yesterday that it will launch a EUR100bn stimulus package, probably next week, while Germany extended the short-term labour package until the end of 2021.
Countries like France, Spain and Italy have rejected new lockdowns despite a rise in the number of COVID-19 infections.
Today's most important event is Fed chair Powell's speech on the monetary policy framework review at the annual Jackson Hole conference at 15:10 CEST. Many have high expectations that the Fed is adopting some sort of average inflation targeting allowing inflation to overshoot the 2% inflation target before tightening monetary policy.
The positive sentiment in the US equity market continues, however there was a mixed picture in Asian equity markets this morning.
European Key Point
- France announced yesterday that it will launch a EUR100bn stimulus package.
- Countries like France, Spain and Italy have rejected new lockdowns.
- Fed chair Powell's speech on the monetary policy framework review.
- The positive sentiment in the US equity market continues.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.