The black gold looks set for the first weekly rise in three weeks

Ichimoku Kinko Hyo

AUD/JPY: The AUD/JPY pair has breached the Tenkan Sen level. Further bearish sentiment will push prices into lower ground.

European Market View

ECB clearly acknowledged the recent weakness in European macro and sees downside risks. Subsequently, EUR/USD went lower to mid 1.16's.
Global stock markets are on track for the worst week since March amid political uncertainty on US fiscal easing, COVID-19 resurgence and the return of restrictive measures across Europe. Futures are back in 'red' this morning following a few disappointing tech earnings reports after the US closure.
As far as COVID-19 is concerned, Europe continues to move in the wrong direction at a rapid pace and new cases are running close to 200,000 per day.

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