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 USD/JPY pair is now trading within the Kumo
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading within the Kumo. Further bearish sentiment will push prices below the cloud, targeting the previous low. Alternatively, an upward wave would lead the exchange rate to test the upper level of the Kumo. If the pair manages to withstand the sellers’ pressure, it will exit the cloud. The next resistance is seen at the previous peak.
The battle over the besieged South-eastern city of Mariupol continues after Ukraine refused to surrender by yesterday's deadline. Securing control over Mariupol would mark a key victory for Russia after it has moved the focus of its military operations to the East and South of Ukraine. Taking over Mariupol would enable a land bridge for Russia from the Donbass region to Crimea. Ukraine has said they are ready for a 'special round of negotiations' to protect civilians in Mariupol.
Elsewhere, the World Bank President, David Malpass, warned yesterday that the food crisis – which was triggered by Russia's invasion on Ukraine - is causing a 'human catastrophe'. He said food prices could increase by as much as 37% and that impacts will be magnified for the world's poor who will struggle to make ends meet. According to a UN food price index, food prices are at their highest since the records began 60 years ago.
In the equity space, stocks were mostly higher, but in a volatile session. Defensive stocks did better than cyclicals, and value outperformed growth although yields ticked lower. It is evident that there is a disconnect in the market and a reason behind it is that yields have not been rising due to macro, but monetary policy repricing and market fear for stagflation. Dow Jones closed +0.7% higher and S&P 500 -0.1% and NASDAQ -1.2%.
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