Microsoft and Pfizer will publish its earnings for the third quarter on October 27. Let’s get ready with us!
USD/JPY keeps rallying
2020-09-29 • Updated
The US dollar became stronger last week amid the risk-off sentiment, but this week the demand for the greenback waned. It was caused by optimism over the US fiscal stimulus package and also some progress in the Brexit agreement. The impasse between Democrats and Republicans has been too long, therefore the recent announcement to unveil 2.2 trillion dollars improved the market sentiment and weighed more on the safe-haven yen. On the flip side, uncertainty over November’s US elections may underpin the JPY against the USD.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher. In fact, it has already failed several times to cross it. However, if it manages to break it through, the doors towards 106.20 and then to 106.50 will be open. The RSI indicator has approached the 50.00 level. As you may know, if the RSI is above this point, momentum is considered up and there’s more sense to look for opportunities to buy. That’s why, the breakout may confirm further bullishness.
In the opposite scenario, if it falls below the key psychological mark of 105.00, the way to the low of September 17 at 104.50 will be open. Indeed, this scenario is quite possible as the long-term trend is bearish, and there is no sign of reverse yet. Wait what will happen next: breakout or pullback and join the flow!
GBP/USD has bounced off the key support of 1.30 and turned to the upside. The pound is widely anticipated to rally further amid rising hopes for the end of Brexit talks this weekend on Halloween.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month