EUR/USD closer to 1.2000 area

EUR/USD closer to 1.2000 area

2021-02-04 • Updated

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Ichimoku Kinko Hyo

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

GBPJPYM30 (8).png

Fibonacci Levels

 XAG/USD: Seems that the bullish euphoria has passed away. Silver bulls stands above 61.8% retracement area.

XAGUSDH4 (14).png

EU Market View

Asian equity markets were mostly lower following a flat lead from the US where focus centered on earnings and stimulus plans. Stocks dipped on Thursday as a spike in short-term Chinese interest rates fanned worries about policy tightening in the world's second-largest economy, although improving corporate earnings and easing market volatility helped stem losses. Expectations of a large U.S. stimulus package underpinned risk assets as the Democratic-controlled Congress sought to pass President Joe Biden's $1.9 trillion COVID-19 relief package without Republican support. While it is unclear how much compromise the Democrats are willing to make with Republicans who are calling for a smaller package, many investors expect additional spending of at least $1 trillion. Looking ahead, highlights from macroeconomic calendar include Eurozone & UK construction PMI, BoE rate decision, factory orders, Fed's Kaplan, Daly speeches.

EU Key Point

  • Gold under pressure as technical breakdown puts the spotlight on $1,800.
  • Germany reports 14,211 new coronavirus cases, 786 deaths in the latest update today.
  • Fuji News Network reports Japan could begin coronavirus vaccinations on February 17.
  • Moody's says it expects a lower default rate in the Asia-Pacific region in 2021.

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EUR/USD closer to 1.2000 area

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