ECB Decision

ECB Decision

2020-09-10 • Updated

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EURUSDM30.png

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Ichimoku Kinko Hyo

USD/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.

USDJPYM30 ich.png

Fibonacci Levels

 XAG/USD: Silver stands above the 50% retracement area. Buyers have returned.

XAGUSDM30  fib.png

US Market View

The number of Americans applying for initial unemployment benefits came in at a larger than forecast 884,000 last week, indicating that labor market recovery is stalling amid the ongoing coronavirus pandemic. Headline inflation is likely to remain negative in the coming months and to turn positive in early 2021, Lagarde said. She noted that the euro will put downward pressure on inflation.

US Key Point

  • ECB September forecasts see higher inflation in 2021
  • ECB September GDP forecasts show bump in 2020 to -8.0%
  • Lagarde says that there is no need to overreact to euro gains

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