Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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
EURGBP rose on dovish BoE
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
The highlight for markets today will be the FOMC meeting
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Popular
Indices and Stocks in the Red
The stock market has reversed, and now it’s going lower and lower…
Walmart earnings outlook
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Choose your payment system
