OPEC+ - unexpectedly - decided to gradually increase back the oil supply. What's the outlook for the oil price?
Quiet Markets Looking for Dirrection
Information is not investment advice
Ichimoku Kinko Hyo
EUR/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.
XAU/USD: Gold after a bearish correction is touching the 50% retracement area.
European Market View
European stock markets are seen opening cautiously higher Friday, with Chinese economic data suggesting a slow recovery ahead of the release of quarterly growth numbers for the eurozone. White House said Treasury Secretary Mnuchin told House Speaker Pelosi he was willing to move forward with COVID-19 aid on some issues, but not election funding. Looking ahead, highlights from macroeconomic calendar include Eurozone employment and GDP (2nd), US Retail Sales, Industrial Production and University of Michigan Survey.
European Key Point
- Eurostoxx futures trading at -0.2% in early European trading.
- NZ PM Ardern supports that will extend Auckland lockdown for an extra 12 days.
- Russia to publish coronavirus vaccine trials data in the coming days.
- Germany reports 1,449 new coronavirus cases in latest update today.
EUR/AUD rose to 1…
US stock markets are set to open mixed as the post-Pfizer rally is reassessed, but cyclicals are still clearly outperforming the growth and momentum names that have notched the biggest gains during the pandemic.
Let's make some technical observations on stocks. Amazon's a great example!
Fibonacci Levels XAG/USD: Silver facing a further consolidation above 23…
Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud…