The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
Tag - eur
The NFP brought good figures last Thursday, but the spike of infections in the US keeps suppressing the risky momentum.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.
The market sentiment improved after the positive vaccine experiment. Stocks gained and EUR/USD surged, as well. Traders await the NFP report.
Concerns about the coronavirus clash with hopes of recovery. Traders await the US jobs data. Watch the video to find out what this means for the major pairs!
The day has started with a stronger dollar, as bulls pushed USD/JPY higher.
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.