President Trump Returns to the White House

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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 bullish momentum.

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Fibonacci Levels

 XAU/USD: Gold stands above 23.6% retracement area and seems that gains steadily.

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EU Market View

Asian equity markets traded positively following the firm handover from global peers as markets track stimulus developments and US President Trump’s health. White House Chief of Staff Meadows noted there is potential for a stimulus package, although doubts over Senate approval remain. US President Trump is planning to participate in the next Presidential Debate scheduled for October 15th

RBA maintained the Cash Rate Target and 3yr yield target at 0.25%, as expected and reiterated forward guidance .Looking ahead, highlights from macroeconomic calendar include EZ & UK construction PMIs, EIA STEO, ECB's Lagarde, Lane, Fed Chair Powell, Harker, Bostic, Kaplan speeches.

EU Key Point

  • Germany August factory orders come at +4.5% vs +2.8% m/m than expected

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