Vaccine Headlines and EU Fund Progress Lift Sentiment

Risk Assets Gain, Safe Havens Slide on Vaccine and EU Fund Optimism

The dollar traded lower against all but three of the other G10 currencies on Monday and during the Asian morning Tuesday. It underperformed versus GBP, NOK, SEK, CAD, AUD, and NZD in that order, while it was found virtually unchanged against JPY, CHF, and EUR.

S&P 500 — Technical Outlook

Yesterday, the S&P 500 finally managed to break and close above the June high, at 3233. The index also continues to trade above a medium-term tentative upside support line taken from the low of March 23 rd. The positive price momentum seems to be picking up again, which suggests there could be more upside in the coming days, hence why we will take a bullish approach for now.

EUR/JPY — Technical Outlook

EUR/JPY failed yesterday to make its way above the high of last week, at 122.97, and this morning we are seen a small correction lower. This move could still be classed as a temporary correction, as long as the rate stays above a short-term tentative upside support line drawn from the low of July 10 th. We will take a somewhat positive stance, at least for now.



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