Stimulus hopes remain to keep markets strong

Stimulus hopes remain to keep markets strong

2020-10-12 • Updated

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Ichimoku Kinko Hyo

EUR/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

 XAG/USD: Silver stands above 23.6% retracement area and signs a strong bullish trend.

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EU Market View

US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Trump admin has called on Congress to pass a stripped-down version of the relief bill.

Looking ahead, highlights from the macroeconomic calendar include ECB’s Lagarde, de Guindos, Schnabel, Panetta, BoE’s Bailey, Haskel and US Columbus Day Holiday. EU leaders are to insist on tough enforcement for any UK trade deal; UK PM Johnson said Britain is committed to exploring every avenue to reach an agreement

EU Key Point

  • European equities open slightly higher to start the day
  • Germany September wholesale price index comes at 0.0% vs -0.4% m/m prior

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