Markets are moving in line with a weak risk-off sentiment, pushing safe havens higher and stocks and commodities lower.
➡️ Markets had a quiet start to the week. While most stock markets suffered minor losses, it is worth noting that major US indices and the DAX in Europe they are close to historic highs. In other markets, safe havens are.
➡️ In the Forex market, the Japanese yen was the strongest major currency since the Tokyo open today, while the New Zealand and Australian dollars were the weakest. The EUR/USD currency pair remains in focus as trend traders will still be interested in being long on this currency pair. Also the USD/JPY currency pair is in a valid long-term downtrend, with many analysts believing the yen will strengthen further in the coming months as the Bank of Japan continues to back away from its old ultra-loose monetary policy.
➡️ They and crude oil I'm down, as most commodities appear weak.
➡️ Two high-impact data will be released today:
- Swiss Consumer Price Index (CPI) (inflation) data, which is expected to show a monthly increase of 0.1%.
- ISM Manufacturing US Data
Credit by DailyForex.com