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.
Dollar keeps lower to start the new day
2020-12-23 • Updated
Ichimoku Kinko Hyo
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.
EU Market View
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.
EU Key Point
- Gold down on day and remains below 100 day MA
- Japan says to ban travel from UK starting from Thursday amid new virus strain
- Germany reports 24,740 new coronavirus cases in latest update today
- Pelosi says eager to provide $2,000 checks
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.
Jump in to get the technical analysis of GBP/JPY and GBP/USD!
Have you seen the price of Mastercard plunge? An excellent tactical opportunity for bulls!
How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!