EСB will struggle to soften euro for long time

EСB will struggle to soften euro for long time

2020-12-10 • Updated


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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.

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Fibonacci Levels

XAU/USD: Gold bulls return and send price above 61.8% retracement area.

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US Market View

The U.S. will release its weekly numbers on jobless claims, at a time when Congress is still struggling to make any headway on a fiscal relief package – not least due disagreements over enhanced unemployment benefits. U.S. stocks are set for another flat opening, still in suspended animation as talks continue on Capitol Hill over a stimulus package. Boris Johnson and Ursula von der Leyen gave their negotiators another four days to bridge still-wide differences over key issues such as fishing rights, state aid and dispute resolution, after failing to make any visible headway in personal talks on Wednesday. The European Central Bank is expected to provide fresh monetary stimulus at its council meeting.

USA Key Point

  • ECB Lagarde: The economy seen shrinking in Q4, with the services severely curbed
  • US initial jobless claims comes at 853K vs 725K than estimate
  • The AUD is the strongest and the GBP is the weakest

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