It looks to me that the Nikkei has found monthly support and a place where the bears have taken profit. It is also the same area where the 200 moving average is and where there is a fib support level. All of this lines up at the same place. What could it mean? A big push upward and a place where risk aversion begins to wear off. Last night, on Valentine's Day (February 14), China's Trade balance came out greater than expected and Japan's GDP data was worse than expected and not sell of in the yen. This, to me, is a balance that I like to see. Draghi is dovish.
The US Dollar could be further supported by this data along with the good data in US employment data and retail sales. I'll see if the US data this week will continue to ease the markets aversion to its usual equity appetite.
The US Dollar could be further supported by this data along with the good data in US employment data and retail sales. I'll see if the US data this week will continue to ease the markets aversion to its usual equity appetite.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.