Risk Mounts Ahead of US Election
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
Fibonacci Levels
XAU/USD: Gold has started a downside correction and stands on the key 38.2% retracement area.
EU Market View
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street. US Democrats and White House officials were nearing a deal on Friday on a stopgap spending bill to fund the government, which was hampered by a dispute over funding for farmers. The death of Supreme Court Associate Justice Ginsberg has opened another front in the election battle with President Trump intending to make a nomination in the week ahead. Looking ahead, highlights from the macroeconomic calendar include ECB's Lagarde, Fed's Brainard, and Williams and Kaplan speeches.
EU Key Point
- USD/JPY one to watch as the focus stays on equities to start the new week
- German health minister says virus infection dynamic in Europe is worrying