Brent: Future is Still Sunny
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
USD: vulnerable for further weakness
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold has broken down all the retracements areas, which warns of further weakness.
EU Market View
Most major Asian equity markets traded positively as the region took impetus from the record-setting session in the US where the S&P 500 notched a record close. US Treasury Secretary Mnuchin said he will place the USD 455bln of unspent CARES Act money in a general fund, which would need congressional approval to be utilized. Looking ahead, highlights from the macroeconomic calendar include US Durable Goods, GDP (2nd), Core PCE Prelim, University of Michigan Survey, ECB Financial Stability Review, UK Chancellor Sunak November Update, FOMC Minutes.
EU Key Point
- Tokyo governor Koike says to ask bars and restaurants to close by 10 pm starting from Saturday
- ECB's Mersch supports that It will probably be difficult to maintain positive growth going into Q4
- Germany reports the deadliest day of the virus pandemic, another 18 633 new cases
- Trump is expected to address a meeting Wednesday US time on his election fraud
- Federal Open Market Committee November meeting minutes due Wednesday
Gerasimos Papagiannis
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Brent: Future is Still Sunny
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
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