US Dollar Strengthens
Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
Risk Mounts Ahead of US Election
2020-09-21 • Updated
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.
Fibonacci Levels
XAU/USD: Gold has started a downside correction and stands on the key 38.2% retracement area.
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
Michael Eliades
Similar
Risk Off Returns Strong
Gold moves to the 23.6% retracement level. It seems that gold loses strength under the current risk-off mood.
EUR/USD enters a consolidation period
GBP/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.
Latest news
Election may push gold up
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
USD/JPY trades to a new session low
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Dollar keeps slightly softer as risk on returns
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month
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