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Midday Market View

Russian health ministry has approved coronavirus vaccine developed by Moscow's Gamaleya Institute. He hopes Russia will start mass production of coronavirus vaccine very soon. European indices are hovering near 2% gains on the session now with US futures also creeping higher.

Midday Key Point

  • Germany August ZEW survey current situation comes at -81.3 vs -69.5 than expected.
  • Russia president Putin says have approved first Russian-produced coronavirus vaccine.

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USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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