Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/USD to Face Critical Support at 1.1685
Information is not investment advice
Ichimoku Kinko Hyo
CHF/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 after a remarkable correction stands below 50% retracement area. The new stimulus should help gold to move higher.
EU Market View
Looking ahead, highlights from macroeconomic calendar include Eurozone CPI US Retail Sales and University of Michigan, European Council Summit and Fed’s Williams speech. UK Chief Brexit Negotiator Frost said he was “surprised” that the “EU is no longer committed to working ‘intensively’ to reach a future partnership”. Mills in China are reportedly being told to stop buying Australian cotton. Government sources said the cotton industry could face tariffs as high as 40%.
EU Key Point
- UK's Raab supports that UK cannot have to make all the compromises on Brexit
- Japan PM Suga supports that economy remains in a severe state
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?