European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
Markets Move into the Euphoria before FOMC
2020-09-15 • Updated
Midday Market View
Asian equities advanced on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID-19 vaccines. E-Mini futures for the S&P 500 put on 0.6%, reversing early losses, while EUROSTOXX 50 futures eased 0.4%. Chinese blue chips added 0.7%, buoyed by data showing China's industrial output rose 5.6% in August from a year ago, expanding for a fifth straight month. The yuan climbed to a 16-month high.
Midday Key Point
- NZD is the strongest and CAD the weakest against the USD
- German ZEW survey expectations come at 77.4 vs 69.8 than expected
- ECB's Panetta says Governing Council ready to adjust all policy instruments
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680