Daily Market Outlook On Major
Update Time: 21 Oct 2020 09:30GMT
USD/JPY - 104.88
Dollar's intra-day selloff on usd's broad-based weakness and then break of previous October's 104.95 low suggests recent upmove from September's 6-month trough at 104.01 has made a temporary top at October's 106.10 high and stronger retracement to 104.60/70 would be seen after consolidation but 104.41/45 may hold, yield rebound.
On the upside, only above 105.31/36 would risk gain to 105.50/55 but 105.82 should remain intact.
Data to be released later
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output prices, PSNB, PSNCR, DCLG house price index.
U.S. MBA mortgage applications, and Canada CPI, core CPI, new housing price index, retail sales, retail sales ex-autos.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold rebounds to $2,320 as US yields turn south
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.