Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US stock futures jumped continuing a strong start to September
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair has just breached the Kijun Sen level. If the bears manage to withstand the bulls’ pressure, the bearish sentiment will remain in force.
US Market View
- US stock futures jumped early Wednesday continuing a strong start to September.
- The SP500 climbed 0.6% while Nasdaq futures advanced 1%.
- Private payroll growth came in well below expectations for Aug according to a report Wednesday from ADP.
- Macy’s shares rise after retailer posted 53% jump in Q2 digital sales.
- EURUSD about 0.5% lower in midday trading at about 1.1856.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.