Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US futures have turned slightly positive
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is now testing within the Kumo. Any downward wave would lead the exchange rate to exit the cloud. The pair might attempt to retest the previous low. On the other hand, a higher thrust of the currency pair would trigger the market to test the upper level of the cloud.
Yesterday’s rebound was short-lived, with U.S. markets dipping back to red toward the end of the session. Growth lagged again as yields picked up, with semiconductors, medical and tech selling off further. Dow Jones closed lower by -0.2%, S&P 500 by -1.2% and NASDAQ -2.3%. Asian markets look like have no real direction this morning, and US futures have turned slightly positive.
The IMF came out yesterday and cut its global growth forecast to 4.4% in 2022 from 4.9% back in October.
Today is the FOMC meeting and should expect the Fed to remain hawkish. That would probably mean EUR weakness is here to stay.
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?