EUR/USD hits a new 3 month high

EUR/USD hits a new 3 month high

2020-11-30 • Updated

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Ichimoku Kinko Hyo

CHF/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.

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Fibonacci Levels

 XAU/USD: Gold consolidates below 23.6% retracement level. It seems that bulls have lost control from bears’ pressure.

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European Market View

Asian equity markets began the week mixed amid tentativeness heading into month-end and upcoming key risk events. OPEC+ talks on Sunday failed to reach an agreement on an output cut extension. Looking ahead, highlights from macroeconomic calendar include regional and national German CPIs, US Chicago PMI, OPEC meeting, ECB's Lagarde and BoE's Tenreyro speeches. The idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work together to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure.

European Key Point

  • Oil a little pressured ahead of OPEC ministerial meeting later today
  • Germany reports 11,169 new coronavirus cases in latest update today
  • Trump to add another two Chinese companies to blacklist

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