Market’s Euphoria Keeps Going Despite a Lack of New Stimulus
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Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
Fibonacci Levels
XAU/USD: Gold stands below 38.2% retracement area and seems that after some correction moves higher.
EU Market View
US stocks slumped after US President Trump announced that he is to walk away from COVID relief talks until after the election. Looking ahead, highlights from macroeconomic calendar include German Industrial Output, DoEs, FOMC Minutes, ECB's Lagarde, Fed's Williams, Kashkari, Evans, supply from UK, Germany. US House Democrats stated that Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Apple (AAPL) enjoy ‘monopoly power’ and recommended big changes.
EU Key Point
- Germany August industrial production -0.2% vs +1.5% m/m expected
- US futures creep a little higher ahead of European trading
- Germany reports 2,828 new coronavirus cases, another 16 deaths in latest update