Trade Idea (2020-11-17) Risk-on by Moderna vaccine news

Trade Idea

Good morning.

Yesterday’s US stocks continued to rise sharply, with Moderna’s announcement raising expectations for vaccine development, and the DJIA hit a new high on a closing price basis.

The foreign exchange market was also risk-on, and USD and JPY were sold. USDJPY ends in the mid-104 range. EURUSD temporarily fell to 1.1814, but remained above 20 daily-MA, ending at around 1.185.

GBPUSD was also stable, keeping above 20 daily-MA.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

DJIA: 29,950.44 (+470.63, +1.6%)
NASDAQ: 11,924.13 (+94.84, +0.8%)
S&P 500: 3,626.91 (+41.76, +1.16%)
GOLD: 1,888.5 (+0.7)
OIL: 41.42 (+0.08)
US 10-YR: 0.898 (-0.008)
VIX: 22.45 (-0.65)

Asian market today

Nikkei: 25,975~ (+67)
CME Dow future: 29,822~(-128 Dow)

Economic indicators in this week

GMT 13:30(US)Retail Sales