USD is the strongest and the AUD is the weakest

USD is the strongest and the AUD is the weakest

2020-11-20 • Updated

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Ichimoku Kinko Hyo

AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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Fibonacci Levels

XAG/USD: Silver after many efforts to move higher returns aggressively bearish.

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US Market View

U.S. stock markets are set to extend Wednesday’s losses when they open later, on fears that the current wave of Covid-19 cases will weigh heavily on output in the final quarter of the year.

The U.S. passed the grim milestone of over 250,000 deaths from Covid-19 as cities and states across the country moved to tighten restrictions on gatherings and economic life to stop their health systems from being overwhelmed. The number of people hospitalized with the virus rose to a new record high of over 79,000, while the death count hit its highest since early May.

The Central Bank of Turkey raised its key one-week borrowing rate by 475 basis points, as its new governor acted to shore up the world’s worst-performing currency among the big emerging markets this year.

USA Key Point

  • November Philly Fed comes at 26.3 vs 23.0 than expected
  • IMF's Georgieva supports that global economic recovery may be losing momentum, risks are very high
  • Barnier reportedly cancels briefings to EU side planned for next week

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