Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
The risk-off sentiment continued to take place on Tuesday
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading between the Tenkan sen and Kijun sen level. An upward wave would lead the currency pair to retest the previous top. On the other hand, a drop of the market will push prices to find support at the upper level of the Kumo.
The main event of today is the Fed’s decision tonight. The Fed is expected increase the tapering pace to USD25bn per month starting in January, next year, which would imply an end to QE bond buying program in April.
In the equities space, the risk-off sentiment continued to take place on Tuesday, with equities lower and defensive stocks outperforming. Although yields were roughly unchanged the value versus growth trade resurfaced. Maybe this was positioning for tonight's FOMC meeting. Financials and materials ranked among the best sectors, while tech and real estate sold off. Major U.S. indices closed lower with Dow Jones down -0.3%, S&P 500 -0.8% and NASDAQ -1.1%. Asian markets are mostly unchanged this morning, and the same goes for U.S. futures.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
Suddenly, the US Dollar Index fell 6.70% over the last two weeks, marking the biggest decrease in the currency since 2020.
The G20 summit took place in Bali, Indonesia, on November 2022…