Weekly Market Outlook: August 24-28
The last summer days... Let's draw some conclusions from what we have seen since June so far and check our tactical market lense.
Tag - eur
European stocks traded slightly lower on Friday afternoon
The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
Brexit dead end: GBP sharply dropped
The British pound outperformed the euro and the US dollar after the better-than-expected PMI. However, Brexit deadlock pushed the GBP down.
Global PMIs will be released today
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
August 21: risk-on is back
The market sentiment has switched to risk-on today as US-China relationships are getting better. The US dollar is dipping down, while riskier assets are rising.
What drives the market on August 21?
The market sentiment has switched to risk-on today as US-China relationships are getting better. The US dollar is dipping down, while riskier assets are rising.
Coronavirus cases surge in Europe
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
The United States jobless claims will be released
USD/CHF is now testing the key resistance at 0.91519
August 20: consolidation
The consolidation that started on Wednesday is continuing so most currency pairs with the USD are going flat.
European markets slightly higher after the record highs of S&P500
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
EUR/USD stabilized below 1.1950
The most traded pair takes a breath after reaching levels unseen since May of 2018.
Main market movements on August 19
The sentiment is indeed risk-on today! S&P 500 surged to the all-time high, and EUR/USD jumped to levels unseen since May of 2018. Let’s have a closer look.
