The positive sentiment in the US equity market continues

The positive sentiment in the US equity market continues

2020-08-27 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The EUR/JPY pair is now poised to enter the cloud. A failed attempt to move higher will push the market lower, confirming the bearish outlook.

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European Market View

France announced yesterday that it will launch a EUR100bn stimulus package, probably next week, while Germany extended the short-term labour package until the end of 2021.

Countries like France, Spain and Italy have rejected new lockdowns despite a rise in the number of COVID-19 infections.

Today's most important event is Fed chair Powell's speech on the monetary policy framework review at the annual Jackson Hole conference at 15:10 CEST. Many have high expectations that the Fed is adopting some sort of average inflation targeting allowing inflation to overshoot the 2% inflation target before tightening monetary policy.

The positive sentiment in the US equity market continues, however there was a mixed picture in Asian equity markets this morning.

European Key Point

  • France announced yesterday that it will launch a EUR100bn stimulus package.
  • Countries like France, Spain and Italy have rejected new lockdowns.
  • Fed chair Powell's speech on the monetary policy framework review.
  • The positive sentiment in the US equity market continues.

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