Listen to the latest market mood for today’s session.

Asian equity markets traded up as the Bank of Japan announced more stimulus steps in order to help cushion the economic impact of the COVID19 outbreak. The Nikkei is trading up +2.71%, the Hang Seng up +1.83%, and the Australia’s 200 index is trading up +1.50%. Furthermore, European futures have bids amid plans for a gradual easing of the lockdown in Italy, France and Spain.

  • As long as this optimistic mood remains we can expect a ‘risk on’ market. A risk on market= AUD, NZD, CAD, Equity buying and JPY, CHF selling.
  • Therefore, expect buyers on AUDJPY from pullbacks as long as this risk on tone remains.
  • We expect this outlook to play out over the next market session.
  • The main risk to this outlook remains to be any negative coronavirus news which will result in a risk ‘off market’. A risk off market will invalidate this outlook and= JPY, CHF buying and AUD, NZD, CAD, and Equity selling.

HYCM Lab is a financial analysis source that provides regular insights on how global news affects the markets including forex, commodities, stocks, indices, and cryptocurrencies*. Run by the HYCM team, it equips traders with everything needed to make informed trading decisions.