Archives of “September 11, 2020” day

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The pound continues to struggle to get off the floor

  
Analysis, Forex

Cable is lingering at session lows just below 1.2800 currently

GBP/USD is down to a session low of 1.2785 as the pound is struggling to for respite amid the ongoing Brexit uncertainty seen throughout the week.

The pair is sitting lower despite the fact that the dollar is seen weaker for the most part against other major currencies, barring the Japanese yen.
For cable, key support levels are continuing to give way and things aren’t looking pretty:

GBP/USD D1 11-09
The drop yesterday took out the 50.0 retracement level @ 1.2867 and that is shifting the downside focus towards the 200-day MA (blue line) @ 1.2737 currently.
That alongside the 100-day MA (red line) @ 1.2694 (and 61.8 retracement level @ 1.2722) will be the key focus areas in case the downside momentum extends. A break below that will see sellers build even more pressure in search for a move towards 1.2500 next.
On the week, the pound has been the runaway underperformer as it is down by 3.7% against the dollar. The next weakest currency has been the Canadian dollar, which has been weighed down by slumping oil prices, and the loonie is “only” down 0.9%.

China says it has no interest in meddling with US election, issues warning to Microsoft

  
  Analysis
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Comments by the Chinese foreign ministry

  • Denies any meddling in US election
  • Warns Microsoft not to ‘make things up out of nothing’
This comes after Microsoft reported that they found hackers targeting the US election here, pointing out that:
  • Strontium, operating from Russia, has attacked more than 200 organizations including political campaigns, advocacy groups, parties and political consultants
  • Zirconium, operating from China, has attacked high-profile individuals associated with the election, including people associated with the Joe Biden for President campaign and prominent leaders in the international affairs community
  • Phosphorus, operating from Iran, has continued to attack the personal accounts of people associated with the Donald J. Trump for President campaign

But majority of these attacks had not been successful, according to Microsoft, adding that no attacks were launched on groups handling the voting systems themselves.

Nikkei 225 closes higher by 0.74% at 23,406.49

  
Analysis, Global Indices

Asian equities brush off the softer mood in Wall Street yesterday

Nikkei 11-09
Stocks in Asia are ending the week on a firmer note, despite tech showing some concerns, as equities are taking more of a cue from US futures today rather than the slump in the cash market overnight.
The Hang Seng is up 0.8% while the Shanghai Composite is up 0.5% as we see S&P 500 futures keep higher by ~0.8% and Nasdaq futures up by ~0.9%.
That said, it is still early in the day to be calling for another rebound in the equities space and all eyes will be fixated on Wall Street today for more clues ahead of the weekend.
The Tuesday lows will be the key decisive level to watch in case the hopeful momentum seen so far today falters later on in the day.
As for major currencies, the dollar is mildly softer alongside the yen but gains in other currencies are more modest still for the time being.
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