Gold exceeded $2.000 per ounce. Stock futures rose on Wednesday as investors awaited further updates on stimulus talks.
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.
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
New COVID-19 cases globally have been on the rise lately, although it is too early to call them second waves in most countries.
With the pandemic claiming about 1000 lives a day in the United States, many departments said they lack the money and the staff to identify people who have been exposed, according to a survey of a 121 local agencies.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.