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EUR/USD Trades at One-Month high as Dollar Keeps Weaker
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAU/USD: Gold consolidates above 61.8% retracement area. The upcoming possibility of 2 trillion stimulus should help gold to move higher.
EU Market View
European stock markets are seen opening higher Wednesday, helped by increased confidence for a new U.S. stimulus package to boost the world’s largest economy. The White House and Democrats in the U.S. Congress moved closer to agreement on a new coronavirus relief package on Tuesday as President Donald Trump said he was willing to accept a large aid bill, in an attempt to get a deal done before the Nov. 3 election. Looking ahead, highlights from macroeconomic calendar include UK and Canadian Inflation, ECB's Lagarde, Lane and de Guindos, BoE's Ramsden and Fed's Mester.
EU Key Point
- UK PM Johnson To Make Statement on Local Covid-19 Measures
- Early optimism over fate of stimulus deal fades towards markets’ close.
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Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus