The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?
Attention: risk sentiment is off
During the European trading session, both the US and the UK yield curves inverted. This is the sign of the recession. It pulled the risk-weighted assets down and increased the demand for the Japanese yen.
- USD/JPY has tested the ground below the 50-period SMA on H4. The pair has touched the support at 105.8. If this level is broken, the next support will lie at 105.52. From the upside, the resistance levels at 106.62 and 106.74 are in focus.
- USD/CAD has been among gainers. The pair has touched the 1.33 level, which lies close to the crossover of 100- and 200- period SMA on the daily chart. If this level is broken, the next resistance will be placed at 1.3338. If the Canadian dollar strengthens, bears will try to pull it back towards the 50-period SMA at the 1.3196 level.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!