The USD has become soft. What's the tactical outlook against its main counterparts?
Euro's Strength Continues
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.
XAG/USD: Silver stands above the 61.8% retracement area and it seems that after some correction it may move higher.
EU Market View
Asian equity markets traded mostly positive as the region took its cue from the rebound in the US.
The US Vice Presidential debate saw Harris and Pence exchange blows to discredit the records of both Presidential candidates. FOMC minutes provided little in the way of fresh information with no greater clarity on how far the Fed would permit inflation to overshoot its target.
Looking ahead, highlights from the macroeconomic calendar include German trade balance, ECB minutes, US weekly jobs data, ECB's Schnabel, de Guindos, Mersch, Fed's Barkin, BoC's Macklem speeches.
EU Key Point
- Nikkei 225 climbs 0.96% to close at its highest level since February
- Japan's Nishimura supports that current economic sentiment is becoming very good
Asia-Pacific stocks lacked firm direction as momentum faded from the record-setting performance on Wall St, where the S&P 500 and Nasdaq printed fresh all-time highs
Fed's Powell said a slowing recovery and a surging pandemic meant the US was entering a "challenging" few months, with the potential deployment of a vaccine still facing hurdles.