USD/JPY may be losing its influence on Stocks
Stock-Markets / Stock Markets 2016 Apr 22, 2016 - 06:22 PM GMT
The USD/JPY influence on the SPX may be waning. ZeroHedge reports, “Kuroda, we have a problem. Following rumors overnight, USDJPY is obediently being bid (Yen weaker), with its biggest day since January and pushing above 111 (highest in 3 weeks). Normally this would be all the US equity needed to spike ignorantly to new highs... but it's not...
Standard 200 pip vertical ram on nothing but rumors... but stocks ain't buying it...”
Could it be that we are seeing the final disconnect with the Yen carry trade? Or is it that SPX needed to complete a fifth Wave, leaving the decline as an impulse? Don’t be surprised to see a retracement rally this morning.
The Shanghai Index is struggling with its first weekly loss since late February.
Bloomberg reports, “s equities climb around the world, Chinese traders aren’t celebrating.
The Shanghai Composite Index has fallen 3.9 percent this week, the worst performance among 93 global benchmark gauges tracked by Bloomberg and the steepest decline since January. It’s not just the stock market. The yuan is trading around its lowest level against a basket of currencies since November 2014, while yields on corporate debt have risen for 10 of the past 12 days.”
The EuroStoxx Index is approaching its mid-Cycle resistance, typically the limit for a Wave (2).
ZeroHedge reports, “Mario had a bee in his bonnet yesterday morning. Apparently, the chorus of German voices pointing to the obvious—- that his policies are killing savers, insurance companies, pension funds and banks—-got his dander up:
“We have a mandate to preserve price stability for the whole of the euro zone, not only for Germany,” he said. “We obey the law, not the politicians, because we are independent.”
Are the central banks running out of ammunition?
Regards,
Tony
Our Investment Advisor Registration is on the Web.
We are in the process of updating our website at www.thepracticalinvestor.com to have more information on our services. Log on and click on Advisor Registration to get more details.
If you are a client or wish to become one, please make an appointment to discuss our investment strategies by calling Connie or Tony at (517) 699-1554, ext 10 or 11. Or e-mail us at tpi@thepracticalinvestor.com .
Anthony M. Cherniawski, President and CIO http://www.thepracticalinvestor.com
As a State Registered Investment Advisor, The Practical Investor (TPI) manages private client investment portfolios using a proprietary investment strategy created by Chief Investment Officer Tony Cherniawski. Throughout 2000-01, when many investors felt the pain of double digit market losses, TPI successfully navigated the choppy investment waters, creating a profit for our private investment clients. With a focus on preserving assets and capitalizing on opportunities, TPI clients benefited greatly from the TPI strategies, allowing them to stay on track with their life goals
Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.
Anthony M. Cherniawski Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
