China’s economy continued its rebound from the coronavirus pandemic, with a round of key data for August all coming in above expectations.
Daily Market Analysis
Asian equities advanced on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID-19 vaccines.
EUR/USD is edging higher amid the broad sell-off of the greenback and the overall risk-on sentiment. Let’s discuss what can stop its rally.
Asian equity markets were somewhat mixed as the region only partially sustained the momentum from the firm US handover.
U.S. stocks are set to open markedly higher on reassurances from the pharma sector about progress in the hunt for a vaccine to fight the Covid-19 virus.
Eurozone March industrial production comes at 4.1% vs 4.2% m/m than expected
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Risk looking positive as we enter European session.
XAG/USD: Silver stands above the 23.6% retracement area. An indecision still exists.
GBP/USD is now poised to retest the key support level at 1.3000. Jump in for the technical analysis!
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.
ECB President Lagarde offered EUR/USD a free pass to head higher.