British Pound Gains Momentum
European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
Bank of England makes no changes to monetary policy
2020-08-06 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
Fibonacci Levels
XAG/USD: There is not a retracement for silver. One bullish rally is followed by another one.
EU Market View
Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall Street. Looking ahead, highlights from macroeconomic calendar include BoE and RBI Monetary Policy Decisions, US Initial Jobless Claims, Fed's Kaplan.
EU Key Point
- Germany June factory orders comes at +27.9% vs +10.1% m/m expected.
- BOE leaves bank rate unchanged at 0.10%.
- Tokyo coronavirus panel worrying about infection spread in all areas of the city.
Maichael Eliades
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EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
GBP: the hangover
So the pound went all-in bullish yesterday on Brexit hopes. While these hopes still have to manifest, the GBP will have to defend its positions now.
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USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
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All eyes focusing on today’s Trump - Biden debate
EUR/USD has violated the first resistance trendline area 1.1680
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