EUR/USD, USD/CHF and corection in gold

EUR/USD, USD/CHF and corection in gold

2020-08-12 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

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Fibonacci Levels

XAU/USD: Gold after a remarkable bearish correction finds buyers close to 23.6% retracement area.

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European Market View

Asian equity markets traded with a lacklustre tone following on from a weak lead from US where the major indices faltered in late trade. Looking ahead, highlights from macroeconomic calendar include UK GDP, Swedish CPI, US CPI, DoEs, Fed's Rosengren and Kaplan speeches. Asian stocks dipped today on growing uncertainty over whether the US lawmakers would agree on an additional round of big fiscal stimulus to support an economy still struggling with the novel coronavirus.

European Key Point

  • Eurostoxx futures at -0.5% in early European trading.
  • German health minister says that he is 'very skeptical' about Russian coronavirus vaccine.
  • China's People's Daily supports that "Taiwan is an inseparable part of the Chinese territory".

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