USD/JPY consolidation period remains intact

Read the article on FBS website

2020_12_11_10_04_45_Template1_PowerPoint.png

USDJPYM30.png

2020_12_11_10_09_54_Template1_PowerPoint ..png

EURCHFM30.png

Ichimoku Kinko Hyo

AUD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.

AUDJPYM30 ich.png

Fibonacci Levels

XAU/USD: Gold consolidates on the 38.2% retracement area the last day. Seems that bullish momentum declines recently.

XAUUSDH4.png

European Market View

Asian equity markets traded mixed following a similar subdued performance on Wall Street. EU leaders agreed on a compromise involving the EU budget and rule of law with Poland and Hungary, unblocking the recovery package. US Senate Majority Leader McConnell reportedly doesn’t see a path on the two main sticking points (aid to states/cities and liability protections). Looking ahead, highlights from the macroeconomic calendar include US PPI, Uni. of Michigan, Fed's Quarles, ECB's Lagarde, ECB Council Summit. The ECB increased the overall size of its Pandemic Emergency Purchase Programme (PEPP) by 500 billion euros to 1.85 trillion euros and extended the scheme by nine months to March 2022.

EU Key Point

  • The German government, states to discuss new virus measures this weekend
  • ECB's Villeroy that ECB is vigilant about the euro exchange rate
  • The BOJ is likely to extend corporate funding aid schemes
  • Germany sees a jump to record daily coronavirus cases alongside the deadliest day of the pandemic

TRADE NOW

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.