US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
EUR/USD hits a new 3 month high
2020-11-30 • Updated
Ichimoku Kinko Hyo
CHF/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAU/USD: Gold consolidates below 23.6% retracement level. It seems that bulls have lost control from bears’ pressure.
European Market View
Asian equity markets began the week mixed amid tentativeness heading into month-end and upcoming key risk events. OPEC+ talks on Sunday failed to reach an agreement on an output cut extension. Looking ahead, highlights from macroeconomic calendar include regional and national German CPIs, US Chicago PMI, OPEC meeting, ECB's Lagarde and BoE's Tenreyro speeches. The idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work together to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure.
European Key Point
- Oil a little pressured ahead of OPEC ministerial meeting later today
- Germany reports 11,169 new coronavirus cases in latest update today
- Trump to add another two Chinese companies to blacklist
President-elect Biden will present details of his plans to support the economy through the pandemic, while Federal Reserve chairman Jerome Powell may offer some reaction in a speech later.
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