This week opens with mixed global stock markets, but the Japanese Nikkei 225 Index easily traded today at a new all-time high price.
- There is some focus on Japan today for two reasons:
- The Nikkei 225 Index has risen again to trade at a new all-time high price.
- Yen volatility has declined notably, with implied volatility on 1-month Yen options close to its lowest level since 2022.
- In the Forex market, the Euro has been the strongest major currency since the Tokyo open today. The New Zealand Dollar has been the weakest. Volatility in the USD/JPY currency pair, and in Yen crosses, has started to really decline.
- Bitcoin continues to make a bullish consolidation 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 strongly Friday to make another new record high. Trend traders will be watching closely and will be interested in going long. Cocoa futures have risen by more than one third since the start of 2024 alone.
- There will be no high-impact economic data releases today and as it is a Monday, it is likely to be a relatively quiet day in the market today.
Forex Brokers We Recommend in Your Region
Source link
