Yen is gaining on dollar weakness

Yen is gaining on dollar weakness

2020-11-19 • Updated

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Ichimoku Kinko Hyo

GBP/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: Bulls effort to send price higher failed and sends silver again below 23.6% retracement area.

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EU Market View

Dow Jones ended lower following late-day selling Wednesday on signs of further Covid-19 restrictions in the U.S. that threaten the pace of the recovery, and an intraday reverse in Boeing.  Asian bourses were mixed as the region partially shrugged-off the risk-averse mood that rolled over from US where early vaccine optimism faded amid COVID-19 concerns. Selling in the US exacerbated heading into the close after New York City Mayor De Blasio announced the closure of all public schools from today. European leaders will reportedly demand today that the European Commission publishes no-deal Brexit plans amid worries negotiations are dragging on. Looking ahead, highlights from macroeconomic calendar include US Existing Home Sales, Fed’s Mester, ECB’s Lagarde, Schnabel speeches.

EU Key Point

  • Germany reports 22,609 new coronavirus cases in latest update today
  • Japan's Aso says not thinking about giving cash handouts to households again
  • Tokyo raises coronavirus alert to its highest level due to accelerating cases

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