Markets Cautious, Brexit and Stimulus Talks in Focus

Markets Cautious, Brexit and Stimulus Talks in Focus

2020-10-06 • Updated

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Ichimoku Kinko Hyo

NZD/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 bullish momentum.

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Fibonacci Levels

 XAG/USD: Silver during the last hours is trying to move higher and continues to stand above 23.6% retracement area. Silver’s outlook remains bullish.

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US Market View

U.S. stock markets are set to open moderately lower after making strong gains on Monday in expectation of a fiscal stimulus package.

Trump returns to the White House, talk on fiscal stimulus progresses, and central bankers line up to promise more. Stocks are drifting lower, but oil is well supported ahead of weekly stockpile data. Here is what you need to know in financial markets on Tuesday, October 6th. Talks on a fresh round of fiscal support for the U.S. economy appear to be making progress toward completion.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by telephone for an hour on Monday to narrow their remaining differences. The talks are set to continue Tuesday, according to various reports.

US Key Point

  • EU reportedly ready to call UK's bluff on Brexit talks
  • ECB's de Cos supports that here is a risk that vaccine might not arrive by middle of 2021

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