Risky Assets Are Flying Again

Risky Assets Are Flying Again

Happy Wednesday, dear traders! Today, traders will get first hints regarding the US labor market condition and the US GDP. Let's check more news moving the markets today!

  • The Bank of England is facing severe losses when buying its bonds to help the economy. Experts say the situation will get even worse.
  • Coinbase (COIN) gained 15% yesterday, and Bitcoin increased over 6% after Grayscale's victory in court against the SEC.
  • The largest Chinese ETF reported a record monthly inflow of funds from clients, indicating a possible stock market reversal.
  • Fundstrat Research expects the data this week to signal disinflation and "softening" of the labor market. As a result, they believe the Fed will finish the rate hike cycle.
  • Risk sentiment is back. Yesterday, NASDAQ gained 2.15%, with Tesla and Nvidia increasing by 7.70% and 4.16%, respectively.  

CADJPY outlook

CADJPYH1.png

  • CADJPY is flirting with the descending trendline. If the price closes above 108.04, the way to 108.26 and 108.64 will be opened.
  • However, if the price bounces off the trendline, it will decline to 107.60 and 107.40.

Have a great trading session!

TRADE NOW

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