Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
Fibonacci Levels
XAG/USD: Silver is flying higher and breaking out all resistance areas.
European Market View
The Fed kept rates unchanged, enhanced guidance and refrained from extending the weighted average maturity of purchases. Looking ahead, highlights from macroeconomic calendar include BoE, SNB, Eurozone CPI (final), US building permits, housing starts, IJC, Philadelphia Fed, Japanese CPI, NZ trade, ECB's Schnabel, de Guindos speeches. Stocks scaled record heights, the dollar plumbed two-year lows and oil prices hit their strongest since March on Thursday, as monetary support and the hope of fiscal stimulus in the United States put traders in a festive mood. U.S. lawmakers edged closer to agreement on a $900 billion virus-relief spending package on Wednesday with top Democrats and Republicans sounding more positive than they have in months about getting something done.
The proposal is expected to include $600-$700 stimulus checks and extended unemployment benefits and cannot come soon enough as U.S. COVID-19 infections soar to record levels.
EU Key Point
- Dollar trails behind to kick start the session
- Tokyo reports 822 new coronavirus cases in the latest update today
- Germany reports 26,923 new coronavirus cases in the latest update today
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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