USD moves lower after US equity indices advance
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Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
Fibonacci Levels
XAU/USD: Gold achieves another full retracement. Gold bulls control market as USD losses strength.
European Market View
Stocks surged, oil prices jumped and the US dollar lost strength on Monday as expectations of fewer regulatory reforms and more monetary stimulus under US President-elect Joe Biden supported risk appetite. The Democratic candidate's election victory was already largely priced in by markets, which had been trading with the view of a Biden presidency and a Republican-controlled US Senate since last week.
EU Key Point
- Germany reports 13,363 new coronavirus cases in latest update today.
- US equity index futures skyrocket.
- China is beginning to hint at an exit from stimulus.
- BOJ Summary says need to avoid prematurely ending easy monetary policy.