EUR/USD: looks at 1.25 target

EUR/USD: looks at 1.25 target

2020-12-14 • Updated

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Ichimoku Kinko Hyo

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

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Fibonacci Levels

 XAU/USD: Gold sell-off keeps going. Sellers send price below 38.2% retracement area.

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US Market View

The dollar headed lower in early European trade Monday, as traders deserted the safe haven on hopes that Congress will finally agree on a fiscal stimulus package ahead of the Federal Reserve's policy meeting. A bipartisan bill for a $908 billion Covid-19 relief package is set to be introduced in Congress later in the day, which could be split into two separate packages in order to maximize the chances of something getting through differences between Republicans and Democrats. The pound rebounded after the U.K. and European Union agreed to extend their negotiations on a post-Brexit free trade agreement yet again, after missing the latest self-imposed deadline on Sunday. The Organization of Petroleum Exporting Countries will release its monthly report on the world oil market as crude oil futures consolidate above $50 a barrel for the first time since the pandemic erupted.

USA Key Point

  • The GBP is the strongest and the USD is the weakest
  • US expects to immunise 100 million by March
  • ECB's Panetta says inflation will remain subdued

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