Euro Remains Strong after ECB

Euro Remains Strong after ECB

2020-09-11 • Updated

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Ichimoku Kinko Hyo

USD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

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Fibonacci Levels

 XAG/USD: Silver stands below retracement area of 38.2%. Bulls could not keep price at the 50% retracement area.

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EU Market View

Asian equity markets trade mixed as the region partially shrugged-off the weak performance stateside where all major indices declined amid selling in technology and energy sector. India and China issued a joint statement in which they agreed to honor existing agreements and ease tensions. Looking ahead, highlights from macroeconomic calendar include UK GDP, US CPI, ECB's members speech of Schnabel and Lane.

EU Key Point

  • ECB's Lane supports that Euro's rise dampens inflation outlook
  • Economic data coming up in the European session
  • ECB President Lagarde offered EUR/USD a free pass to head higher

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