The UK Economic Recovery looks to have Peaked

The UK Economic Recovery looks to have Peaked

2020-10-09 • Updated

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Ichimoku Kinko Hyo

NZD/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.

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Fibonacci Levels

 XAU/USD: Gold stands above 61.8% retracement area and seems that after some correction moves higher.

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EU Market View

Asian equity markets traded mixed but with a mildly positive bias as US equity futures extended on the prior day’s gains. Looking ahead, highlights from macroeconomic calendar include UK GDP, Canadian labor market report, BoE's Haldane. President Trump noted optimism that stimulus talks are beginning to work and was said to be open to something larger than a skinny bill.

EU Key Point

  • UK August monthly GDP comes at +2.1% vs +4.6% m/m than expected

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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!

Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

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