The day has started with a stronger dollar, as bulls pushed USD/JPY higher.
Tag - eur
The European unemployment rate will be announced on Thursday at 12:00 MT time.
Does the pair still have the potential to the upside?
What will drive the market this week?
Investors are still indecisive between the second wave virus fears and smoother recovery hopes, so we have unsure shaky risk-on spots at a generally mixed market background.
The ECB’s president Christine Lagarde warned about the complicated economic recovery. Bears got stronger.
Investors stay optimistic because they believe that the second wave will be offset by the additional stimulus measures from the government.
Investors stay optimistic despite the virus outbreak in the USA and worse-than-expected jobless claims.
The USD lost it's value across the board as the market got risk-on mood back; at the same time, gold climbed to $1,770 paving the way to $1,800.
Have you seen the USD? It lost value against the EUR and JPY - a rare situation - grab it!
EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
Mixed messages from the US policymakers and mixed market sentiment. Watch the video to great ideas for trading in such an environment!