USD/JPY trades to a new session low

USD/JPY trades to a new session low

2020-10-28 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

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Fibonacci Levels

 XAG/USD: Gold moves below the 23.6% retracement level. It seems that silver has the potentials to move higher from this stage.

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US Market View

U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday. Hopes for a stimulus package for the U.S. economy in the near term all but died as Majority Leader Mitch McConnell adjourned the Senate until November 9. Senate Republicans have been the major stumbling block to a deal in recent days, refusing to go along with President Trump’s calls for a bigger package. Two of Europe’s largest banks posted stronger-than-expected results, putting pressure on the continent’s regulators to lift their current bans on dividend payments.

US Key Point

  • US dollar slump quickly halted
  • EURUSD trades between 100- and 200-hour moving averages
  • US Sept prelim durable goods orders come at +1.9% vs +0.5% than expected

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A tentative mood was seen in Asia-Pacific bourses following the flat performance on Wall Street, whilst Chinese Caixin Services PMI printed its second-highest reading in a decade.

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