Euro's Strength Continues

Euro's Strength Continues

2020-10-08 • Updated

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Ichimoku Kinko Hyo

EUR/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

XAG/USD: Silver stands above the 61.8% retracement area and it seems that after some correction it may move higher.

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EU Market View

Asian equity markets traded mostly positive as the region took its cue from the rebound in the US.

The US Vice Presidential debate saw Harris and Pence exchange blows to discredit the records of both Presidential candidates. FOMC minutes provided little in the way of fresh information with no greater clarity on how far the Fed would permit inflation to overshoot its target.

Looking ahead, highlights from the macroeconomic calendar include German trade balance, ECB minutes, US weekly jobs data, ECB's Schnabel, de Guindos, Mersch, Fed's Barkin, BoC's Macklem speeches.

EU Key Point

  • Nikkei 225 climbs 0.96% to close at its highest level since February
  • Japan's Nishimura supports that current economic sentiment is becoming very good

TRADE NOW

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