Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
European Equities Open Lower
2020-10-15 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold stands above 61.8% retracement area and seems that sellers return powerful.
EU Market View
Treasury Secretary Mnuchin, after speaking with House Speaker Pelosi, said stimulus talks are still far apart and it is difficult to get anything done before the election but will keep trying. Looking ahead highlights from macroeconomic calendar include US Import/Export Prices, Initial Jobless Claims and Philadelphia Fed Manufacturing Index, European Council Summit, ECB's Lagarde, Fed's Kaplan, Kashkari and Quarles, BoE's Cunliffe, supply from Spain, France and US, OPEC+ JTC Meeting, earnings from Morgan Stanley
EU Key Point
- China says will take countermeasures if the US insists on sanctions to banks over Hong Kong crackdown
- AUD/USD slumps to fresh session low on softer risk mood, key support levels in focus
Gold moves to the 23.6% retracement level. It seems that gold loses strength under the current risk-off mood.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month