Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
Risk On Moves Markets Higher
2020-10-05 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAU/USD: Gold stands on 61.8% retracement area despite last week’s NFP. Seems that some correction is taking place.
EU Market View
UK PM Johnson set a deadline of October 15th to secure a Brexit deal with the EU and both sides agreed to 11 days of “intensified” talks to finalize an agreement. Looking ahead, highlights from the macroeconomic calendar include Final Eurozone, UK and US services PMIs, ISM non-manufacturing, BoE's Haldane, ECB's de cos, and Fed’s Evans speeches. President Donald Trump could be discharged from the hospital where he is being treated for COVID-19 as soon as Monday, according to his doctors, although his condition remains unclear and outside experts warn that his case may be severe.
EU Key Point
- US Senate Majority Leader McConnell said we are getting closer to stimulus negotiations
- BOJ's Kuroda: Japanese economy in severe condition but picking up
- Eurostoxx is higher +0.9% in early European trading
- Germany's Altmaier supports that no taxes should be raised during the pandemic
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