Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US futures are pointing a tad lower this morning
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is now testing the Tenkan sen level. A plunge of the market will push the currency pair below the previous support, bringing the rate into fresh lows. Alternatively, a bounce up from the current levels would lead NZD/JPY into a correction phase towards the Kijun sen level and the lower level of the Kumo.
There was a risk off in markets on Wednesday, especially in Europe while US recovered well off the day's lows. Cyclical and growth stocks moved lower for a second day and quite markedly so (growth underperformed value by 200bp). Defensives and materials were the only sectors higher. Dow Jones ended the day lower by -0.4%, S&P 500 -1% and NASDAQ -2.2%. US futures are pointing a tad lower this morning as well.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?