EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
USDJPY rebounded back towards 114.00
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading above the Kumo. Further bullish sentiment will lead the currency pair to retest and even surpass the previous top. A failed attempt to move higher will push prices to enter the cloud and even lower to hit the Tenkan sen level.
European Market View
Equities fell yesterday, once again with the US indices setting the tone. Europe and Asia finished higher, but Europe will have some catching up to do today as the drop in US stocks happened after the close of trading in Europe. One obvious reason for the drop was the +6% CPI print from US. With that in mind it is no surprise to see defensive, value, large cap stocks outperforming. It was more or less a textbook reaction taking place in the US even if it took a little time to unfold. In U.S. major indices ended the day as follows: Dow Jones, down by -0.7%, S&P 500 by -0.8% and NASDAQ -1.7%. The VIX index is moving higher for the fifth consecutive day. Asian stocks doing fairly well this morning in light of the US data and market moves yesterday. U.S. futures are mixed while European futures are in red.
In the FX space, USD rose on a broad basis yesterday after US CPI inflation rose much more than expected. EURUSD dropped below 1.15 and currently trading in the area of 1.1450, USDJPY rebounded back towards 114 and Cable fell close to 1.34. In the EM space USDTRY is at ATH, north of 9.90.
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EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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