Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD: a drop 15min before the American session
Information is not investment advice
Right before the US session starts, the USD dropped much of its value.
Against the JPY, it fell to 106.65, which is already below the 2-month support left from June 6, and now it has 106.00 – the lowest low since March.
In the meantime, EUR/USD rose to 1.1332 coming to test the June 16’s resistance of 1.1350. If the risky moods persist as observers say, we may see the USD get significantly beyond these levels. However, this movement will exhaust itself some time, so be there for a retrace.
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Brutal session in the equity markets yesterday
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European Currencies Ahead of the Banks' Statements
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.
Will the FOMC Surprise the Markets?
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.
What awaits the Oil Market in February?
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.
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