NZDJPY - BEARISH BIAS#NZD - Bearish Mode
Recap:
1️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help ‘change the behaviour’ of their government.
2️⃣ Negative performance was driven mainly by global risk sentiment moves.
Review:
1️⃣ It’s another quiet week ahead on the economic calendar. Away from the numbers, private sector PMIs from China, COVID-19, and geopolitics will remain in focus.
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#JPY - Bullish Mode
Recap:
1️⃣ A weakening U.S Dollar stemming from the progress towards a COVID-19 vaccine supported the Yen. Also, this currency had been supported by risk aversion sentiment due to US-China tensions.
Review:
1️⃣ Progress towards a COVID-19 vaccine would pin back any upside in the Yen. Support could come from the U.S administration, however.
