Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
Cable Extends Fall to Fresh Two-Month Low
2020-09-23 • Updated
Ichimoku Kinko Hyo
CAD/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.
XAU/USD: Gold plunges below $1900 and it seems that bears have the absolute control of the market now.
EU Market View
Asian equity markets traded mixed and failed to take full impetus from the rebound across their global peers. Looking ahead, highlights from the macroeconomic calendar include Eurozone, UK, and US Flash PMIs, Fed's Powell, Kashkari, Mester, Quarles, Evans, Rosengren, Bostic and Daly speeches.
EU Key Point
- UK's Raab supports that virus restrictions are serious, proportionate
- BOJ's Kuroda: Fed's thinking is like the BOJ
- ECB's Mersch supports that It is obvious that the exchange rate has had effects on inflation
Gold moves to the 23.6% retracement level. It seems that gold loses strength under the current risk-off mood.
GBP/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.
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month