Frank Walbaum
FX Strategies.Asia
Important news for the day
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Wed, 07th, 00:45 CET NZ Unemployment rate.
JPY rallye
The strength of the Japanese Yen seems to have stopped for now. Most JPY currency pairs have started to appreciate again, showing further weakness in the Japanese currency after the BoJ stated that they won’t raise rates further if markets would remain unstable. The current situation might also help the Nikkei index further. The index lost more than 12% on Monday before gaining about 10% back thereafter. Also today it looks like the positive sentiment might continue.
Market talk
The Dollar is currently starting to appreciate again against most other currencies. In light of the negative headlines from the economic sight the Greenback might weaken again, though. Currently no flight to safe- haven assets can be seen as in particular Gold prices remain in a sideways pattern without offering positive momentum for now. The oil market is approaching an important support zone. Should the area at around USD 73.00 not be broken, further upside might occur. This could also help the CAD further, which geared up steam against most other currencies.
Tendencies in the markets
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Equities positive, USD mixed, cryptos positive, oil at support, metals sideways, JPY weaker.
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JPY weaker, VIX falling, stocks rebound, what's next?
The Dollar is currently starting to appreciate again against most other currencies. In light of the negative headlines from the economic sight the Greenback might weaken again, though.