European stock markets are mostly higher in early trade, with the GER30 up 0.19%, after US President Trump modified his stance on stimulus in tweets overnight, rekindling hope that at least some relief measures will go through before the US election, even if there may not be a comprehensive package. US futures are now up 0.6%, suggesting that Wall Street will recover some of yesterday's losses. This catalysed a bout of risk-off positioning, which featured USD and JPY buying in currency markets.
TODAY: FOMC minutes, ECB President Lagarde speech and Ivey Purchasing Index in Canada.
Biggest gainer – AUDJPY +0.59% - Drifted lower by approx. 122 pips, unable to move above 20-DMA for 5th (below 20 day since 15th September. So far today it recovered around 40% of yesterday’s losses, with fast Mas higher after posting a bullish cross 3 hours ago. MACD remains negative, RSI just crossed above 50 and Stochastic are OB. 1H ATR at 0.167 and Daily ATR at 0.78.
#HotForex #HFAnalysis #trading #forex