Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USDJPY dropped below 110
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is trading within the Kumo. Further bullish momentum will lead the pair to exit the cloud.
European Market View
Main event in today’s calendar is the FOMC meeting – the announcement of which comes at 20:00CEST. In today’s meeting it is broadly expected that the Fed will repeat that high inflation is mostly transitory and the recovery of the labour market has further to go.
EU has put the threat of immediate legal action against UK on hold to give some room for more talks to find a solution to the recent conflict over the Brexit agreement.
US Stocks declined 0.5% yesterday led by tech stocks ahead of some key earnings reports from big tech companies. Apple reported a strong fiscal Q3 earnings report but the share dropped due to warnings from the company that chip shortages could impact sales this quarter.
The Chinese stock rout took a breather overnight with the Chinese index in Hong Kong in slightly positive territory. After a fall of approx. 17% over the past month, the index trades at a five-year low. It follows China's recent crackdown on some big tech companies and on the private education sector, which has spooked investor sentiment with rumours of big outflows from US investors.
In the FX space the green back continued to weaken against other currencies, with the EURUSD climbing again over 1.18, while the USDJPY dropped below 110.
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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…
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Bulls Are Coming Back
The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
What to trade on June 20-24?
Last week was shocking! The US dollar gained more than 2% against other currencies ahead of the 75-basis points rate hike by the Federal Reserve on Wednesday but dropped after the announcement…
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