EUR/USD is trading lower before ECB

EUR/USD is trading lower before ECB

2020-12-09 • Updated


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Ichimoku Kinko Hyo

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

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Fibonacci Levels

 XAU/USD: Gold after a sell off earlier today is trading much above 61.8% retracement area.

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US Market View

U.S. stock markets are set to open mostly higher, supported by signs that the U.S. is edging closer to agreeing a fiscal package to lighten the burden on the economy from the latest wave of the Covid-19 pandemic. Treasury Secretary Steven Mnuchin proposed a package of measures worth $916 billion to House Speaker Nancy Pelosi on Tuesday, and although Pelosi rejected it as offering inadequate funds to state and local governments, its size increases the pressure on Senate Leader Mitch McConnell to abandon his plans for a smaller bill.

China’s annual rate of inflation turned negative for the first time in a decade in November, but analysts were quick to play down any suggestion a destructive deflationary cycle. Crude oil prices edged higher again after a setback on Tuesday, when American Petroleum Institute data showed another surprising rise in U.S. crude inventories, by over 1 million barrels.

USA Key Point

  • Sadiq Khan warns that London may move to Tier 3 virus restrictions
  • ECB meets tomorrow
  • Poland, Hungary, Germany reach agreement on EU budget deal
  • Sterling claws its way higher ahead of eagerly awaited Johnson-von der Leyen meeting



How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Stocks to trade in July
Stocks to trade in July

When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.

Top Stocks to Trade this Earnings Season
Top Stocks to Trade this Earnings Season

The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.

Latest news

Gold is Rising Despite Inflation Returns
Gold is Rising Despite Inflation Returns

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.

Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

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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