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Forex Today: Nikkei 225 index breaks another record

Forex Today: Nikkei 225 index breaks another record

This week opens with mixed global stock markets, but Japan's Nikkei 225 index traded easily today at a new all-time high price.

➡️ Today there is some attention on Japan for two reasons:

  • The Nikkei 225 index  it rose again to trade at a new all-time high.
  • Yen volatility declined sharply, with implied volatility on 1-month yen options near its lowest level since 2022.

 

➡️ In the Forex market , the Euro has been the strongest major currency since Tokyo opened today. The New Zealand dollar was the weakest. Volatility in the currency pair USD/JPY  and in yen crosses it really started to decline.

➡️ Bitcoin  continues to consolidate bullish below its new 20-month high above $52,884. Trend traders and investors will remain interested in Bitcoin on the long side.

➡️ Cocoa futures  rose sharply on Friday, reaching a new all-time high. Trend traders will be watching closely and will be interested in going long. Cocoa futures have risen by more than a third since the start of 2024 alone.

➡️ There will be no impactful economic data released today and since it is Monday, it is likely to be a relatively quiet day in the market today.

 

Credit by DailyForex.com

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