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The Important Things That You Should Know On 28/09/2020

Xero Capital Markets Ltd.


1) The dollar retreated from 2-month highs, driven by the improved risk sentiment amid optimism over the US fiscal stimulus and China's economic recovery. Also, Investors are focusing on the first US Presidential election debate which is set on this Wednesday.

2) According to the NY Times report, the US District Court stop the Trump administration's ban on TikTok downloads, however, Trump said the report is fake.

3) AUD/USD traded higher around 0.7050 amid the upbeat market mood.

4) NZD/USD was trading above 0.6550, as New Zealand Prime Minister Jacinda Ardern said that a travel with some of the Australian states could be allowed before Christmas.

5) USD/JPY dropped below 105.50, amid hopes of additional from Japan and subdued Treasury yields.

6) EUR/USD is hovering above 1.1600, amid weaker dollar. However, the bearish bias remains intact as EUR pressured from the virus resurgence and restrictions in Eurozone economies. Besides, EUR strength influenced by European Central Bank (ECB) concern, which its want a weaker EUR to accelerated the economic recovery.

7) GBP/USD traded above 1.2750 amid an upbeat in Brexit negotiation, which is British diplomats are optimistic about reaching a post-Brexit transition trade deal with the European Union (EU).

8) Gold consolidated around &1,860 ahead of the election debate, while WTI crude oil dropped below $ 40 per barrel amid oil demand recovery concerns.

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Source: https://monsun.asia/
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