
Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals.
2020-12-23 • Updated
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver after a remarkable strength yesterday lost 4% and now stands above 38.2% retracement area.
The dollar was down on Wednesday morning in Asia, despite caution over the new B.1.1.7 strain of the COVID-19 virus pushing investors turn toward safe-haven assets. The discovery of the B.1.1.7 strain, first seen in the U.K., saw London and southeastern England put under Tier 4 lockdowns. The Philippines banned all U.K. flights from Dec. 24 earlier in the day, joining over 40 countries that have closed their borders to the U.K. and causing travel chaos just a few days before Christmas. Demand for the dollar had been weakening as the rollout of vaccines and the possibility of more U.S. stimulus measures boosted hopes for a global economic recovery from COVID-19, sapping demand for the dollar and other safe-haven currencies.
Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals.
The price of Prizer stock bounced off the highs it recently reached on the vaccine euphoria. Is it bad? No, the opposite! A perfect tactical layout to buy.
US stocks are set to extend Monday’s losses when markets open later, as concern about the spread of lockdown measures to tackle the pandemic returns to haunt cyclical stocks.
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