What's the upside target for gold now? Read the article and set your levels for the previous metal.
Optimism Still Exists for More Stimulus
2020-10-22 • Updated
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.
XAU/USD: Gold moves below the 23.6% level. It seems that the current risk-off mood does not help bulls.
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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