Dollar slightly firmer in European morning Session

Dollar slightly firmer in European morning Session

2020-11-12 • Updated


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Ichimoku Kinko Hyo

CHF/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

CHFJPYM30 ich.png

Fibonacci Levels

 XAU/USD: Silver after a sell off is trading below 23.6% retracement area. It seems that a bearish flag is formatting.


EU Market View

Asian equity markets traded mostly lower as sentiment gradually deteriorated from the mixed performance stateside. Oil futures traded near two-month highs due to hope for a vaccine and a larger-than-expected drawdown in U.S. crude inventories. U.S. stocks were mixed as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress and the likely timing of an economic rebound.

Looking ahead, highlights from the macroeconomic calendar include UK GDP, US CPI and Initial/Continued Jobless Claims, ECB's Lagarde, de Guindos, Mersch Schnabel; Fed's Powell, Williams and Evans, BoE's Bailey speeches. The U.S. dollar edged lower against the yen and yuan as traders adjusted positions before U.S. President-elect Joe Biden takes office next year.

EU Key Point

  • UK September monthly GDP comes at +1.1% vs +1.5% m/m than expected
  • OPEC reportedly looking to extend current output cuts for another 3-6 months
  • Germany reports 21,866 new coronavirus cases in the latest update today



Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

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