Risk Appetite Remains Intact after Vaccine News

Risk Appetite Remains Intact after Vaccine News

2020-11-11 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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Fibonacci Levels

XAG/USD: Silver after a remarkable sell off is trading above 23.6% retracement area. Bulls still hesitate to send price higher.

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US Market View

U.S. stocks are seen opening higher Wednesday, with gains seen across all sectors as the optimism following the news of a workable vaccine for the Covid-19 virus persists. The Dow Jones Industrial Average is up 11% in November, rising in six of the last seven sessions and closing in on a new record high, while the Nasdaq Composite has fallen for the last two days. The United States reported a record number of new Covid-19 cases for the seventh day in a row on Tuesday, while the number of deaths surged to their highest daily count since August and hospital admissions hit an all-time high. Oil prices pushed higher Wednesday, continuing the recent positive tone generated by Pfizer’s vaccine news, and helped further U.S. crude inventories falling by more than expected.

USA Key Point

  • Brexit talks likely to go into next week
  • EUR/USD falls to fresh lows on the day as sellers try to seize near-term control
  • Partial holiday for US markets today

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