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Market Mood CADJPY 27.01.20

Market Mood CADJPY 27.01.20

Market Mood CADJPY 27.01.20

in Daily Forecasts

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

Weak CAD
The CAD is weak today as WTI crude fell over 2% overnight to below $53 per barrel due to demand concerns on the further spreading of the coronavirus. The price of oil typically falls in a risk-off environment due to an expected decrease in oil demand.

Strong JPY
The JPY is strong today on risk-off tones due to increased coronavirus fears with confirmed cases now at 2,744 and a confirmed death toll of 80.

Expectations
Expect CADJPY sellers on pullbacks.

Risks to this outlook
Any improvements in the coronavirus containment, or news of a successful vaccine. Alternatively, any news that causes oil to spike would give CAD strength.


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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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