The British pound outperformed the euro and the US dollar after the better-than-expected PMI. However, Brexit deadlock pushed the GBP down.
Daily Market Analysis
The coalition of Pfizer and BioNTech have announced that the regulatory review of the Covid-19 vaccine is scheduled for October. This positive news may add some tailwinds to the Pfizer stock.
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
Where is GBP/USD going? See the long-term and short-term technical layout for this important currency pair.
USD/CHF is now testing the key resistance at 0.91519
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
The most traded pair takes a breath after reaching levels unseen since May of 2018.
Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail.
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
ER/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.
The pair slumped to levels unseen since January. What’s next?