Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/JPY has dropped below 113 again from over 114 last week
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair has just entered the cloud. Further bullish momentum will trigger the market to move higher, targeting the upper level of the Kumo. A failed attempt to move higher will push the exchange rate to exit the cloud with bearish implications.
European Market View
The most important data release of the day will be the U.S. CPI for October, where consensus is looking for an uptick both in terms of headline and core inflation.
Equities around the world moved lower for a change as US stocks broke the long trend of moving higher. Dow Jones edged lower by -0.3%, S&P 500 by -0.4% and NASDAQ by -0.6%). It does not help overall performance or risk appetite to see a mega cap company such as Tesla loosing 12% or 199 billion USD in one trading session! Otherwise, defensive value stocks were outperforming while energy stocks also moved higher. The news flow is more and more focused on inflation. This should not change today as all eyes will turn to US CPI release at 14:30 CET.
Asian markets are lower this morning with Hang Seng and a property developer once again leading markets lower (Fantasia down over 30% after resuming trade following a long halt). European and U.S. futures are also in red across the board this morning.
In the FX space, JPY and CHF rose vis-à-vis AUD and NZD on Tuesday, driven partly by a decline in long-term bond yields and partly by commodity prices. USD/JPY has dropped below 113 again from over 114 last week. EUR/CHF holds steady below the 1.06 level. In the EM space, USDTRY trades north of 9.70.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
Will USDJPY slide lower in 2023?
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
BoC Rates Could Alter The Trend on USDCAD and others
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
MSFT faces gloomy forecasts ahead of earnings report
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Choose your payment system
