AUD/JPY: Risk off remains and gains momentum
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday.
US Economy crushed by COVID-19 lockdowns in Q2
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: After successfully breached the Kijun-Sen, the pair is trading above the Kumo confirming a bullish momentum.
Fibonacci Levels
XAU/USD: Gold is trading above the 23.6% retracement area of Fibonacci retracement levels. Bulls might attempt to reach the next resistance level at 38.2%.
US Market View
US Economy crushed by COVID-19 lockdowns in 2nd quarter
In the United States, the economy was contracted by (worst-ever) 32.9% in the second quarter in 2020, crushed by COVID-19 lockdowns in 2nd quarter.
US stock futures drop on Thursday after grim GDP report, worsening jobless claims.
The Labor Department data released the number of people filed for unemployment benefits in the past week. The figure exceeded one million.
US Key Point
- US economy contracted by worst-ever 32.9%
- US jobless claims top 1 million again
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AUD/JPY: Risk off remains and gains momentum
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday.
Oil dropped on weak demand
Oil fell below $52.00 because investors expect a weaker oil demand amid rising Covid-19 infections and new lockdowns.
USD strength on risk off mood
Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels
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