Risk Mounts Ahead of US Election

Risk Mounts Ahead of US Election

2020-09-21 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

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Fibonacci Levels

 XAU/USD: Gold has started a downside correction and stands on the key 38.2% retracement area.

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EU Market View

Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street. US Democrats and White House officials were nearing a deal on Friday on a stopgap spending bill to fund the government, which was hampered by a dispute over funding for farmers. The death of Supreme Court Associate Justice Ginsberg has opened another front in the election battle with President Trump intending to make a nomination in the week ahead. Looking ahead, highlights from the macroeconomic calendar include ECB's Lagarde, Fed's Brainard, and Williams and Kaplan speeches.

EU Key Point

  • USD/JPY one to watch as the focus stays on equities to start the new week
  • German health minister says virus infection dynamic in Europe is worrying

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