Risk more cautious and USD slightly softer

Risk more cautious and USD slightly softer

2020-11-18 • Updated

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Ichimoku Kinko Hyo

NZD/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

XAU/USD: Gold after last week’s sell off is trading on the 38.2% retracement area.

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US Market View

US stocks are set to open slightly lower, retracing some - but by no means all - of Monday’s surge that took both the Dow Jones and S&P 500 to new record highs. President Donald Trump continues to make life as hard for the incoming administration as possible. The Wall Street Journal said the outgoing administration is drawing up plans to order a further drawdown of US troops in Iraq and Afghanistan by January 15, five days before he leaves office. The so-called OPEC+ bloc of oil producers will hold a virtual meeting of technical experts to review the state of the oil market, two weeks before its ministers decide on the bloc’s output policy for the coming months. 

USA Key Point

  • Fed's Bostic supports that possible some people are starting to run out of money
  • The GBP is the strongest and the NZD is the weakest
  • EU says Brexit talks are intensive, no comment on timing for a deal

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