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Market Mood CADJPY 06.02.20

Market Mood CADJPY 06.02.20

Market Mood CADJPY 06.02.20

in Daily Forecasts

Listen to the market mood for the CADJPY currency pair in the coming session:

Weak JPY
We are expecting the JPY to be weaker today on continued improved risk sentiment following hopes that the coronavirus will be contained and the news that China will cut tariffs by as much as 50% on $75bn of US goods effective as of Feb 14.

Strong CAD
We are expecting CAD strength today as the latest recovery in oil prices is supportive of the CAD. Also, as a commodity and a risk-on currency, it tends to rise on risk-on moves as we are seeing today.

Expectations
Expect CADJPY buyers on pullbacks.

Risks to this outlook
If we see a fall in equities on coronavirus fears or a fall in US Crude prices then CADJPY will find sellers and invalidate this outlook, so keep a close eye on risk sentiment which still remains vulnerable to large swings at the moment.


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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