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Nasdaq 100 opens higher as Yen weakens again
The US stock markets have just reopened and it has been a positive start to the week. All three major indexes are kicking off on the front foot amid further Yen weakness. The USD/JPY has now reclaimed the 148 handle and with it taken the GBP/JPY and EUR/JPY higher. The Pound is now back above the 189 handle today and hence a step closer to its first Fibonacci rebound objective, at 190.80 (38.2% of 208.11-180.11) . So, the Nasdaq 100 which closed at 18,513 on Friday has just kicked off the new week at 18,548, which is not exactly exuberant, but it is still early in the session. However, and wherever the index gets to today, we should not forget the potential of the US CPI report on Wednesday to step in and derail this recovery.
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