British Pound Gains Momentum
European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
Rising Cases Of COVID Increase Uncertainty
2020-08-06 • Updated
Midday Market View
European stock markets traded mixed early Thursday, with strong industrial data supporting the German market while the Bank of England kept monetary policy unchanged, offering up a more pessimistic outlook. In Germany, factory orders soared in June, climbing 27.9% data showed earlier Thursday, far above the 10% gain expected. The Bank of England maintained its key interest rate at 0.10% earlier Thursday, and kept its powder dry in terms of additional stimulus.
Midday Key Point
- UK July construction PMI 58.1 vs 57.0 expected.
- Tokyo governor repeats that must think about declaring state of emergency if virus situation worsens.
- China repeats that it will take strong countermeasures as it opposes US-Taiwan meeting.
- Dollar firms a little amid mixed markets in European morning trade.
Maichael Eliades
Similar
EUR/USD has more Upside Bias than Downside
EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
GBP: the hangover
So the pound went all-in bullish yesterday on Brexit hopes. While these hopes still have to manifest, the GBP will have to defend its positions now.
Latest news
USD/JPY keeps rallying
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
Bank of America bets S&P 500 will rise by 30%
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
All eyes focusing on today’s Trump - Biden debate
EUR/USD has violated the first resistance trendline area 1.1680
Deposit with your local payment systems
