Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...
GBP/USD loses strenght because of an extented Brexit uncertainty
2020-12-07 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. Further bearish pressure will lead the currency pair to retest the previous lows.
XAU/USD: Gold consolidates above the key 50% retracement area since Thursday.
European Market View
Asian equity markets were mixed despite the region initially taking its cue from the fresh record levels last Friday on Wall Street in which all major indices posted all-time highs. Asian shares retreated from a record peak on Monday after a Reuters report the United States was preparing to impose sanctions on some Chinese officials highlighted geopolitical tensions, while oil prices fell on surging virus cases.
Looking ahead, highlights from macroeconomic calendar include Eurozone Sentiment Index, German Industrial Production and Riksbank Minutes.
EU Key Point
- UK reportedly reaffirms that there is no progress on fisheries, says EU is 'literally making it up'
- Barnier reportedly told EU envoys that there is no deal yet
- German factories less optimistic about production in the coming months
- Germany reports 12,332 new coronavirus cases in latest update today
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.
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.
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