US Dollar: It Is Time To Hedge
What is happening? During June 2021, the US dollar index has gained 2…
Rising Cases Of COVID Increase Uncertainty
Information is not investment advice
Midday Market View
European stock markets traded mixed early Thursday, with strong industrial data supporting the German market while the Bank of England kept monetary policy unchanged, offering up a more pessimistic outlook. In Germany, factory orders soared in June, climbing 27.9% data showed earlier Thursday, far above the 10% gain expected. The Bank of England maintained its key interest rate at 0.10% earlier Thursday, and kept its powder dry in terms of additional stimulus.
Midday Key Point
- UK July construction PMI 58.1 vs 57.0 expected.
- Tokyo governor repeats that must think about declaring state of emergency if virus situation worsens.
- China repeats that it will take strong countermeasures as it opposes US-Taiwan meeting.
- Dollar firms a little amid mixed markets in European morning trade.
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USD/JPY: Take Your Profits
USD/JPY declined further during yesterday’s trading, reaching as low as 109.36, while our short signal from 110.20 is still active and is giving us over 80 pips.
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