AUD/JPY: Risk on remains intact

AUD/JPY: Risk on remains intact

2020-11-30 • Updated

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Ichimoku Kinko Hyo

NZD/JPY: The pair is trading above the cloud. An upside pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.

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Fibonacci Levels

 XAG/USD: Bears clearly control market. Seems day by day that bullish market loses momentum.

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US Market View

World shares paused on Monday to assess a record-breaking month as the prospect of a vaccine-driven economic recovery next year and yet more free money from central banks eclipsed immediate concerns about the coronavirus pandemic. Weden's Riksbank surprised last week by expanding its bond purchase program and the European Central Bank is likely to follow in December. German 10-year Bund yield was down 1.1 basis points at -0.598%, its lowest since Nov. 9.

Federal Reserve Chair Jerome Powell testifies to Congress on Tuesday amid speculation of further policy action at its next meeting in mid-December. As a result, U.S. 10-year yields are ending the month almost exactly where they started at 0.84%, a solid performance given the exuberance in equities.

USA Key Point

  • ECB's Lagarde supports that monetary policy cannot be as targeted as fiscal measures can be
  • Italy November preliminary comes at CPI -0.2% vs -0.3% y/y than expected
  • European equities creep higher after slightly softer start
  • EUR/USD on approach to 1.2000
  • Pound a little higher but price action still confined by key near-term levels

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