News, Trends, & Analytics 06.10.2020

Today the focus is on the Chevron deal, Goldman Sachs forecast, and the emergence of oil bulls.

 

Calendar

12:00 UTC

A short-term forecast of the situation in the energy markets from the US Energy Information Agency will be published. If the document contains positive data, the price of Brent may rise.

Assets to trade: Brent, ExxonMobil


13:00 UTC

ECB President Christine Lagarde will deliver a speech. The event may cause an increase in the volatility of the EUR currency pairs.

Assets to trade: EUR/USD, EUR/CHF


14:00 UTC

There will be a report on the number of open vacancies in the US labor market from JOLTS. The indicator is predicted to come in at 6.685 million. If real data turns out to be higher, USD will receive a positive impulse.

Assets to trade: EUR/USD, USD/CAD


14:40 UTC

Fed Chairman Jerome Powell will deliver a speech. The event may cause an increase in the volatility of currency pairs with USD.

Assets to trade: USD/CAD, USD/JPY

 

News

Chevron will acquire oil and gas producer Noble Energy. Affects Chevron


US military doctors say Donald Trump is on the mend. Affects Brent


The head of the US Federal Aviation Agency, Steve Dickson,  believes that the Boeing 737 MAX needs additional changes. Affects Boeing


Goldman Sachs believes that a trade deal between Britain and the EU will be concluded in November and advises buying GBP. Affects GBP


The Turkish President, Recep Erdogan, is threatening a new military operation in Syria. Affects TRY

 

Technical Analysis

Brent

Last week, the quotes of black gold closed deep in the negative zone. This was facilitated by news reports on an increase in the number of cases of COVID-19, as well as a positive test for coronavirus in Donald Trump. But reports that the American leader is recovering have sent the oil bulls into a state of activity.

Fibonacci levels allow the quotes to rise to the level of 42, from where the resumption of bearish sentiment is possible.

AUD/NZD

A false breakdown of the upper border of the channel can lead to a decrease in the quotes of the currency pair.

GBP/JPY

Currency pair quotes may react to the appearance of an inverted head and shoulders pattern. We expect an uptrend.

 

GBP/JPY on this day in history

  • Since 2000, October 6th has been a trading day 13 times.
  • On 30% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.65%.
  • The downward trend was limited to 5.27%.

Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.

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