Optimism Still Exists for More Stimulus

Optimism Still Exists for More Stimulus

2020-10-22 • Updated

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Ichimoku Kinko Hyo

EUR/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.

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Fibonacci Levels

XAU/USD: Gold moves below the 23.6% level. It seems that the current risk-off mood does not help bulls.

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EU Market View

Looking ahead, highlights from the macroeconomic calendar include German GfK Consumer Confidence, US Weekly Jobs and Existing Home Sales, Eurozone Consumer Confidence (Flash), CBRT Rate Decision, BoE's Bailey and Haldane, Fed's Kaplan and Barkin, ECB's Panetta and Hakkarainen speeches. Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.

EU Key Point

  • BOJ says that the Japanese financial system is maintaining stability as a whole
  • Russia and Saudi rightly concerned about oil demand

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