Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals.
EUR/USD: is it the time to touch 1.20?
2020-11-26 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver in the daily chart shows a significant weakness and bears still hold price below the key retracement resistance area of 23.6%.
EU Market View
Asian shares advanced on Thursday as market euphoria over COVID-19 vaccines and expectations a Biden administration would deliver more economic stimulus and political predictability overrode a slate of weak US economic data. In the currency market, the US dollar stayed under pressure as riskier currencies benefited from the increased optimism. In commodities, oil prices rose for a fifth day as a surprise drop in US crude inventories added to the positive mood stemming from hopes of demand recovery. Looking ahead, highlights from the macroeconomic announcement include the Riksbank policy announcement, ECB minutes, ECB's Lane & Schnabel, US Thanksgiving Holiday.
Minutes from Fed's last policy meeting showed policymakers consider giving markets a better steer on how long they will continue to buy bonds to support an economy under siege from new coronavirus infections.
EU Key Point
- Germany December GfK consumer confidence -6.7 vs -4.9 expected
- Germany reports 22 268 new coronavirus cases in the latest update today
- Italian top official calls for ECB to consider canceling the pandemic debt
- China Securities Journal says some stimulus exit very likely, but no rate hike soon
- China state media warn Biden of tensions and turbulence re Taiwan clarity
- South Korea daily confirmed coronavirus cases today above 500, for the first time since March
The dollar was down on Wednesday morning in Asia, despite caution over the new B.1.1.7 strain of the COVID-19 virus pushing investors turn toward safe-haven assets.
The price of Prizer stock bounced off the highs it recently reached on the vaccine euphoria. Is it bad? No, the opposite! A perfect tactical layout to buy.
Jump in to get the technical analysis of GBP/JPY and GBP/USD!
Have you seen the price of Mastercard plunge? An excellent tactical opportunity for bulls!
How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!