The week started with a mixed sentiment. The US dollar holds it gains after the positive NFP report, and the S&P 500 is eyeing the all-time high at 3 390.
Tag - jpy - japanese yen
The market has started the week with a mixed sentiment…
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.
Asian equity markets failed to sustain the positive tone from Wall Street where all major indices notched gains as technology sector outperformed for another day.
European stock markets traded mixed early Thursday, with strong industrial data supporting the German market while the Bank of England kept monetary policy unchanged, offering up a more pessimistic outlook.
Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall Street.
In the United States, the economy was contracted by (worst-ever) 32.9% in the second quarter in 2020, crushed by COVID-19 lockdowns in 2nd quarter.
It seems like the Fed meeting yesterday marked a final drop in the USD for now.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
The pair sharply dropped to the one-month low. Will it keep falling further?