
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
2020-10-29 • Updated
CHF/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.
XAG/USD: silver moves above 23.6% retracement level at $23.10. Silver bulls still struggling to move the market higher.
It is an earnings season, with Apple, Amazon, Facebook, and Alphabet all reporting after the close. The earnings again come only a day after some of their CEOs were in Congress, the timing thus sparing them the embarrassment of having to defend their monopoly profits at a time of widespread hardship across the economy. The U.S. economy grew at its fastest rate since records began in the third quarter, reversing much but by no means all - of the output lost in the second quarter under the impact of the coronavirus pandemic. The figures, while spectacular, are essentially backward-looking and exaggerated by the habit of annualizing GDP data. They reflect the reopening of many businesses in the summer after government-mandated stay-at-home orders had crippled both manufacturing and services output in the spring.
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
What happened? It looks like the decline in EUR/CHF to 1…
What happened? Japanese shares fell on Monday…
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
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