The market appears to be in a risk on mode as investors make a positive interpretation of recent developments. S&P 500 gains while Gold dips.
EUR/USD Forecast
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Euro Zone PMIs brought some relief for the euro as most were better than expected. Australian economy faces a situational challenge.
The Purchasing Managers’ Indexes from the Euro Zone are mostly better than expected. The US Unemployment Claims continues to indicate a bleak situation.
Risk appetite returns as investors speculate on the hope of a working vaccine. Germany and France agreed on a rescue fund for the Euro Zone.
Risk seeking sentiment fell into risk aversion as a number of economic data releases saw red. The employment climate continues to flash red.
Risk aversion strikes as optimism gives way to a string of bad US economic data. Gold being a popular "safe haven" asset has risen in value.