US stock market corrects, gold recovers and the crypto market drops hard! Best trade opportunities during this week in the article! Let’s check the charts and set some goals! NASDAQ (US100) US100 index plunges as the US dollar strengthens…
USD/JPY consolidation period remains intact
2020-12-11 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAU/USD: Gold consolidates on the 38.2% retracement area the last day. Seems that bullish momentum declines recently.
European Market View
Asian equity markets traded mixed following a similar subdued performance on Wall Street. EU leaders agreed on a compromise involving the EU budget and rule of law with Poland and Hungary, unblocking the recovery package. US Senate Majority Leader McConnell reportedly doesn’t see a path on the two main sticking points (aid to states/cities and liability protections). Looking ahead, highlights from the macroeconomic calendar include US PPI, Uni. of Michigan, Fed's Quarles, ECB's Lagarde, ECB Council Summit. The ECB increased the overall size of its Pandemic Emergency Purchase Programme (PEPP) by 500 billion euros to 1.85 trillion euros and extended the scheme by nine months to March 2022.
EU Key Point
- The German government, states to discuss new virus measures this weekend
- ECB's Villeroy that ECB is vigilant about the euro exchange rate
- The BOJ is likely to extend corporate funding aid schemes
- Germany sees a jump to record daily coronavirus cases alongside the deadliest day of the pandemic
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