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Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now testing the Kijun sen level. An upward wave would lead the exchange rate towards the Tenkan sen level and further up towards the previous top.
European Market View
Plenty of economic data out this week, where first comes the PMIs for the Euro area and US. Furthermore, there is German IFO indicator, US GDP numbers on Thursday and US personal income and spending data on Friday.
We are seeing a bit more positive market sentiment this morning with Asian equity markets rising combined with a slight rise in Treasury yields, although the 10Y continue to trade around 1.25%.
The USD also weakened modestly. For EUR/USD, attention will turn to the release of manufacturing PMIs. There is likely further downside risk for EUR/USD and EUR/JPY alike.
Equities recouped some of the losses last Friday. The accumulated loss amounted to -1.5% for the week. Defensives took a breather on Friday but in its place investors bought into quality, while value cyclicals and banks remained laggards. In the US, S&P 500 closed up 0.8%, Dow 0.7% and Nasdaq 1.2%. Asian markets are bouncing around 2% this morning with tech rebounding. US futures point positive also.
The rebound in the equity market is mainly seen as investors took the opportunity to buy at the dip, after the recent decline and while we wait for more information on the rise of the infections in the global economy as well as the comments from the Federal Reserve Chairman at the Jackson Hole conference, that will be taking place this week.
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...
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...
eurusd-is-falling-what-to-expect-from-the-future-price-movement
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...
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