Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
The US equities market slipped on Wednesday
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now trading above the Kumo in an uptrend. The next resistance is the previous peak. A failed attempt to move higher will lead the exchange rate down to the upper level of the cloud.
The US equities market slipped on Wednesday after days of straight gains. Performance per sector was a classic risk-off mode, with defensives (real estate, tech and health care) the only sectors gaining. One sector that stood out, was the autos rising 3% on average. Major indices closed Wednesday as follows: S&P 500 down -0.3%, Dow Jones -0.6% and NASDAQ -0.3%. Declines are following in Asia this morning, with Hang Seng worst hit on tech weakness. US futures however, are slightly higher this morning.
In the FX space, yesterday's session was primarily characterised by the drop in commodity prices, which highlighted the importance of the broader rise in USD on Tuesday. The drop unsurprisingly weighed on most commodity currencies with AUD, CAD and NOK being the underperformers in the European session. EURUSD did little on the day and currently is hovering in the area of 1.1330.
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.