News, Trends, & Analytics 01.10.2020

Today, the focus is on the Boeing test flight, the massive layoffs at Disney, and the latest data from the EU.

 

Calendar

10:00 UTC

The official start of the summit was appointed by the leader of the EU countries. The event could have a strong impact on the behavior of trading floors.

Assets to trade: EUR/CAD, DAX, CAC 40


12:30 UTC

There will be a report on the number of initial applications for unemployment benefits in the United States. The predicted indicator is 850 thousand. If the real data turns out to be lower, the USD may receive a positive market reaction.

Assets to trade: USD/CAD, EUR/USD


14:00 UTC

The index of business activity in the US manufacturing sector for September will be released. Forecast: 56.2 points. A downside deviation will weaken the USD position.

Assets to trade: USD/CAD, USD/CHF

 

News

Disney has announced plans for massive layoffs. Affects Disney


The contraction of the US GDP in the second quarter amounted to -31.4% against the forecast -31.7%. Affects USD


The ADP released a powerful report on US employment growth outside the agricultural sector. Affects USD


Germany and France are showing a recovery in consumer activity. Affects EUR


The US Federal Aviation Agency conducted a test flight of the Boeing 737 MAX. Affects Boeing

 

Technical Analysis

EUR/USD

Consumer spending in France increased by 2.3% against the forecast for a decline of -0.1%. Meanwhile, the unemployment rate in Germany fell to 6.3% and retail sales rose to 3.1%. Strong data in the largest EU economies may have a positive impact on the euro.

Looking at the EUR/USD chart through the prism of Fibonacci levels suggests that the asset will return to a positive trend. Quotes are unlikely to drop below 1.17000 due to the rising support level.

AUD/NZD

The chart of the currency pair has broken through the descending resistance level, which indicates the beginning of an active bullish phase. The first technical growth target may be the level of 1.09000.

NZD/USD

The currency pair has broken through the rising support level, which indicates the beginning of an active bearish phase. The first technical target may be the level of 0.6000.

NZD/USD on this day in history

  • Since 2000, October 1st has been a trading day 13 times.
  • On 38% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.71%.
  • The downward trend was limited to 3.08%.

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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