What happened? It looks like the decline in EUR/CHF to 1…
Technical outlook for CHF/JPY, AUD/JPY, CAD/JPY
2020-08-10 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading in a bullish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAG/USD: Silver is finding a resistance at 23.6% retracement area. Bulls remain strong.
US Market View
China arrested Jimmy Lai, one of Hong Kong’s richest and best-known publishers, on suspicion of collusion with foreign agents. Beijing also said it will sanction 11 US politicians, including Senators Ted Cruz and Marco Rubio, in response to US sanctions announced on the same number of Chinese officials last week. US President Trump issued four executive orders to partially extend the payment of enhanced unemployment benefits, to bridge a gap left by the failure of Congressional Republicans and Democrats to agree on a new package of economic relief measures.
US Key Point
- The USD is the strongest and the CHF is the weakest.
- Core 10-year bond yields remain supported after NFP bounce.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.