GBP: bullish trend under question
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Risk on Returns in European session
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold continues to trade in a range bound mode while bulls hesitate to move market higher.
EU Market View
Asian equity markets weakened on spill-over selling from Wall Street; Hong Kong lagged. Looking ahead, highlights from macroeconomic calendar include Eurozone Employment and GDP (Flash), US University of Michigan, Fed's Williams and Bullard speeches. The United States has reported fresh daily records for new COVID-19 case hospitalizations this week, prompting cities and states, including Chicago, Detroit and California, to re-impose public health restrictions.
European officials have also warned against complacency and said measures to control infections must continue despite hopes that vaccines under development could help to slow the spread of the novel coronavirus.
U.S. Federal Reserve Chair Jerome Powell said on Thursday during a discussion with other central bankers that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus.
EU Key Point
- German health minister supports that it is too early to evaluate if restrictions should be extended or lifted
- Germany reports record 23,542 new coronavirus cases in latest update today
- Former China fin min says that US-China trade friction won't necessarily ease even with the new US president
Gerasimos Papagiannis
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GBP: bullish trend under question
Jump in to get the technical analysis of GBP/JPY and GBP/USD!
Gold: trade the sideways move
How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!
$1.9 tln stimulus is unlikely to support the USD in long term
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
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