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.
Japanese Yen Moves Lower
2020-10-14 • Updated
Ichimoku Kinko Hyo
USD/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 below 38.2% retracement area and bulls appear stronger.
US Market View
US futures fell early in pre-US market open trading as investors' hopes that earnings season would provide some upward impetus waned. Sentiment deteriorated on the news that coronavirus hospitalizations in the US hit their highest level in six weeks and as optimism of an economic stimulus package continued to evaporate.
US Key Point
- Fed's Barkin supports that unemployment adjusted for the drop in participation is around 11%
- GBPUSD back above 100 hour moving average and resistance near the 1.3000 level
- Cable back above 1.30
- Spain's Catalonia closes restaurants and bars for 15 days starting Thursday
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