All eyes on ECB as risk off remains strong

Ichimoku Kinko Hyo

GBP/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

Fibonacci Levels

XAG/USD: silver moves below the 23.6% retracement level at $23.35. Silver bulls will struggle to gain further as a risk-averse mood still exists.

EU Market View

Asian equity markets traded mostly lower following the bloodbath on Wall Street where all major indices declined by more than 3%. The BoJ maintained policy settings as expected and continued to signal a lack of urgency for immediate support.

Looking ahead, highlights from the macroeconomic calendar include Eurozone Consumer Confidence, Economic Sentiment, US GDP (Advanced), Initial/Continued Jobless Claims, German CPI (Prelim). Japanese Unemployment, ECB and BoJ Rate Decisions, ECB’s Lagarde press conference.

EU Key Point

China's major state-owned banks said to be buying dollars to limit the yuan appreciation
BOJ's Kuroda supports that he is ready to ease monetary policy without hesitation if needed
Germany posts record 16 774 new coronavirus cases ahead of November 'lockdown light'

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