Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD eyes 50-day SMA after Monday's surge
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold consolidates at 38.2% retracement area. The upcoming stimulus should help gold to move higher.
EU Market View
European stock markets are seen opening a little lower Tuesday, weighed by weakness on Wall Street as time begins to run out on a new U.S. stimulus package while European governments continue to tighten public health measures to stop the spread of Covid-19. Nancy Pelosi said a stimulus package must be agreed in the next 48 hours if it is to pass before the election, as the Democratic speaker of the House of Representatives turned up the heat on senior Republicans over coronavirus aid. Ms Pelosi will meet Steven Mnuchin, the Treasury secretary, on Monday as the two look to thrash out differences over proposed relief measures which could amount to about $2tn.
Looking ahead, highlights from the macroeconomic calendar include US Building Permits/Housing Starts, Fed’s Williams, Quarles and Evans and supply from Germany. Earnings include UBS, Bellway, Phillip Morris, P&G, Lockheed Martin, Netflix.
EU Key Point
- Germany September PPI comes at +0.4% vs -0.1% m/m than expected
- Germany reports 6,868 new daily coronavirus cases in latest update today
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?