EUR/AUD rose to 1…
Sino-US tensions Keep Rising
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The pair is trading in a bullish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAU/USD: Gold makes a full bearish retracement after a remarkable bullish rally during the last month.
European Market View
Asian stock markets rose this morning on relief that another round of Sino-US sparring appears not to have spilled over into trade, while hopes for US stimulus support oil and other commodity currencies.
European Key Point
- Germany reports 966 new coronavirus cases in latest update today.
- White House says deeply troubled by the arrest of Jimmy Lai in Hong Kong.
- Japanese markets are back from a long weekend (Monday holiday), Nikkei stock index is up 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.
Biden maintains the lead in crucial Pennsylvania. EUR/USD little changed since this morning.
Global stocks were mostly lower on Monday, following the weakness on Wall Street on Friday that stemmed from the weaker-than-expected retail sales report for December.
Most analysts claim EUR/USD will dip to 1.2000. After that, the pair should reverse to the upside.
Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.