The pound has slumped against other major currencies amid fears over the no-Brexit deal. More details have recently come out over EU-UK tensions. Let’s get into them straight away.
Daily Market Analysis
ECB President Lagarde offered EUR/USD a free pass to head higher.
ECB September forecasts see higher inflation in 2021, Lagarde says that there is no need to overreact to euro gains.
Commerzbank announced its short- and long- term projections on the South African rand. Let’s discuss it in detail.
The Mexican peso can have a breather as the USD is losing its grip. Read the article and use what you see.
With no major U.S. economic reports scheduled for release today, the U.S. dollar is set to take its cue from political and pharmaceutical headlines.
EUR/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
Global markets again went their separate ways, with the Japanese, Korean and Chinese markets all falling heavily while European ones rose. Oil prices rebounded overnight as a degree of stability returned to risk assets.
GBP/CAD keeps falling to the downside amid fears over the no-Brexit deal. According to JPMorgan, the pair will continue dipping throughout the whole of September.
The rout in tech stocks in the US over the last day has been a stiff test of nerve for European markets but one to which they appear to be equal, at least for now.
2020 has proved that the market can crash without warning. Whether the market falls or not, some stocks always remain interesting for investors.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.