The Nikkei index movement rose after several stock components in the Dowjones closed in positive territory. Investors currently appear to be watching the development of stimulus support in the US, after President Donald Trump tweeted support for aid for airlines. As well as other stimulus measures, when he said that the White House stopped stimulus negotiations with Democrats.

Overnight, Wall Street rallied amid hopes for a smaller relief package that could be passed by lawmakers. The Dow Jones Industrial Average closed up 530.70 points, at 28,303.46. The S&P 500 jumped 1.7% to end the day at 3,419.45, while the Nasdaq Composite gained 1.9% to close at 11,364.60.

Economic data to be released today:

  1. Gold prices have the potential to strengthen in the short term amid sentiment of a weakening US dollar triggered by the outlook for a Democratic victory in the US presidential election. There is hope for a smaller stimulus aid package in the US after Trump's tweet, especially for the airline sector, and the results of the FOMC meeting minutes which tended to be pessimistic last night. Today's market focus seems to be on the US vice presidential debate and US Unemployment Claims data at 19:30 WIB.
  2. Oil prices have the potential to strengthen in the short term amid hopes for smaller stimulus measures in the US, the potential for a weakening US dollar following the pessimistic FOMC meeting minutes and disruptions to production in the Gulf of Mexico and Norway.
  3. EURUSD has the potential to strengthen in the short term if the dominant sentiment of the US dollar weakens. Today's market focus will be on the German Trade Balance data released at 13:00 WIB and the minutes of the European Central Bank meeting at 18:30 WIB.
  4. GBPUSD also has the potential to strengthen in the short term amid the outlook for a weakening US dollar. However, the increase has the potential to be limited if the market is again worried about Brexit uncertainty and the surge in Covid-19 cases in the UK. Today's market focus will be on BOE Governor Andrew Bailey's speech at 14:25 WIB and the release of the minutes of the Bank of England's financial policy committee meeting which will be released at 15:30 WIB.

Daily Pick

Today's prediction is on the USDCHF pair, it is estimated to decrease and the recommended OP is SELL at level 0.91600 with a profit target of 10 - 20 points and stop loss at 5-10 points.

SELL at level, 0.9160 TP 1 = 0.9150 (10 Points) TP 2 0.9140 (20 Points) SL 1 = 0.9165 (5 Points) SL 2 = 0.9170 (10 Points)

Always prioritize Money Management and Risk Management.

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