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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.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus