Cable Extends Fall to Fresh Two-Month Low
UK's Raab supports that virus restrictions are serious, proportionate
European Markets Look to Follow Asia's Positive Lead
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.
Fibonacci Levels
XAU/USD: Silver stands below retracement area of 50%. It seems that bulls slowly and steadily buy gold.
EU Market View
Asian equity markets were positive across the board and US equity futures also began the week on the front foot. US Senate Majority Leader McConnell said he wished he could say we were going to get another package but added that it does not look that good right now. Looking ahead, highlights from macroeconomic calendar include Eurozone industrial production, ECB's Makhlouf and Lane speeches.
EU Key Point
- Risk looking positive as we enter European session.
- Japan Industrial Production for July (final) comes at 8.7% m/m (prior was 8.0%)
- China has launched an anti-subsidy investigation on some imports from the United States
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Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
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Cable Extends Fall to Fresh Two-Month Low
UK's Raab supports that virus restrictions are serious, proportionate
USD/JPY Tries to Stay Below the 100-hour MA
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
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