Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USDJPY held steady above 114.00
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY pair is now trading between the Tenkan sen and Kijun sen levels. A break back below the Tenkan sen level will push prices into lower ground. Alternatively, an upward wave would lead the exchange rate above the Kijun sen level, targeting the lower level of the Kumo.
European Market View
Thursday was a fairly quiet but positive day for stocks. The data calendar provided little for markets to trade on and the earnings season is no longer a driver. Materials stood out as the winner yesterday as Evergrande once again, avoided a default, industrial metals improved and EM optimism increase. In the United States major indices closed as follows: Dow Jones down by -0.4%, S&P 500 up +0.1% and NASDAQ up +0.5%. This morning there is some EM optimism with Alibaba reporting a record in Singles Day sales. Property developers are in red again and hence Hang Seng is underperforming. Futures in US and Europe are slightly higher.
In the FX space, broad USD continued to rally yesterday. EURUSD fell to 1.1450, while USDJPY held steady above 114.00.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.