European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
NZD Strongest and EUR Weakest Against the USD
2020-09-16 • Updated
Ichimoku Kinko Hyo
CAD/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 has started a downside correction and stands on 23.6% retracement area.
EU Market View
Asian equity markets traded mixed and only partially benefitted from the technology gains in the US. Looking ahead, highlights from macroeconomic calendar include UK Inflation, US Retail Sales, Canadian CPI, New Zealand GDP, FOMC Policy Decision, OECD Economic Update, EC President von der Leyen and Fed Chair Powell.
EU Key Point
- US blacklists another Chinese firm over military work
- US Texas has the biggest daily jump in COVID infections in nearly 3 weeks
- Bank of America fund manager survey indicates that "Long US tech" is the most crowded trade ever
- S. to remove tariffs on Canadian aluminum
EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
So the pound went all-in bullish yesterday on Brexit hopes. While these hopes still have to manifest, the GBP will have to defend its positions now.
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