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New COVID-19 cases globally have been on the rise lately
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The currency pair is now testing the Senkou Span A of the Kumo. A drop of the market below this level will signal bearish implications. The next support is seen at the Tenkan Sen and even lower at the Kijun Sen level.
XAU/USD: Gold bounced up from the correction in today’s session and is now poised to retest the previous high. The MACD oscillator supports this outlook.
European Market View
Within the eurozone area, retail sales for June are due out at 11:00. The data are expected to show another increase in line with retail sales on a country level.
In the United States, the ADP jobs report will be released today and will attract attention, as the high-frequency data showed that the US recovery stagnated in July. ISM nonmanufacturing at 16:00 CEST is expected to remain above 50 despite the recovery put off in July.
New COVID-19 cases globally have been on the rise lately, although it is too early to call them second waves in most countries.
European Key Point
- Within the eurozone area, retail sales for June are due out.
- In the United States, the ADP jobs report will be released today.
- ISM nonmanufacturing at 16:00 CEST is expected to remain above 50.
- New COVID-19 cases globally have been on the rise lately.
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