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RISK ON Increases Momentum Despite COVID
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish trend.
XAU/USD: Gold during the last hours has been losing the previous gains and dropped again below the 50% retracement area.
US Market View
Global stocks eyed a fresh record high on Monday as signs of economic recovery in Asia, recent strong corporate earnings, and hopes of a COVID-19 vaccine bolstered investor sentiment. US stock futures in turn pointed to a positive start for Wall Street later in the day. The prospect of economic recovery also helped oil prices strengthen, with both Brent crude futures and West Texas Intermediate up around 1%, just off their intraday highs. The number of new cases across the US rose on Friday to a daily record of over 177 000, the fourth straight day an all-time high was set, according to a Reuters tally of figures from US public health agencies. Governors in several states, including California, Oregon, and Washington have urged residents to avoid traveling out of state, amid concerns that the coming holiday travel season would accelerate already alarming spikes in infections and hospitalizations. Since the pandemic began, the virus has infected 10 690 665 people in the US, killing 243 580 of them, according to a Reuters tally.
USA Key Point
- The CAD is the strongest and the JPY is the weakest
- New Jersey set to announce new indoor restrictions
- Moderna reports that the coronavirus vaccine found to be 94.5% effective
- Bundesbank warns that the German economy could stagnate or shrink in Q4 this year
- It is getting terribly late and maybe too late already for a Brexit deal, says EU official
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus