What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
USD/CHF: remains under significant selling pressure
2020-11-27 • Updated
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAG/USD: Silver consolidates below 23.6% retracement level. It seems that silver will struggle further to gain.
European Market View
Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly anticipated coronavirus vaccine against hopes that some of the region's economies will recovery quicker than their Western peers. U.S. hospitalizations for COVID-19 are at a record and experts warn that Thanksgiving gatherings could lead to further infections and deaths. More than 20 million people across England will be forced to live under the toughest restrictions even after a national lockdown ends on Dec. 2. Partial lockdowns in some European countries have also raised concern about economic growth.
Asian equity markets were mixed as trade continued to lack firm direction following the holiday closure in the US for Thanksgiving. Looking ahead highlights from macroeconomic calendar include Eurozone Consumer Confidence (Final) & Economic Sentiment, Black Friday, ECB's Schnabel and Panetta speeches.
European Key Point
- Tokyo reports a record 570 new coronavirus cases in latest update today
- ECB's Panetta supports that ecb stimulus so far has not been sufficient
- Germany sees total confirmed coronavirus cases surpass the 1 million mark
- ECB's Panetta says there should be no doubt on the Bank's inflation commitment
- China Industrial Profits for October comes at +28.2% y/y (prior +10.1%)
- The UK is moving to get Oxford-Astra COVID-19 vaccine drug approved faster
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!