News, Trends, & Analytics 10.06.2020

Today, Coca-Cola for bitcoins, the deterioration of relations on the Korean Peninsula, as well as the EU’s GDP for the first quarter are in the spotlight.

 

News

In Hong Kong, hundreds of people gathered to mark the anniversary of the protests. Affects Hang Seng


A preliminary report on the EU GDP for the first quarter showed a decrease of 3.6%. Affects EUR


Deterioration of relations between South Korea and North Korea. Affects Gold


Coca-Cola Asia Pacific will allow the use of cryptocurrencies to pay for products. Affects Bitcoin


Apple is preparing to announce the transition to its own processors for Mac. Affects Apple

 

Calendar

12:30 GMT

The U.S. Consumer Price Index will be published. A fall of -0.1% is expected. If the real data is higher, the USD may begin to grow.


14:30 GMT

There will be a report on changes in crude oil reserves in the United States. Forecast: -1.45 million barrels. A final value below zero will positively affect the cost of Brent.


18:00 GMT

The U.S. Federal Reserve will decide on a key interest rate. If the regulator lowers the value, the S&P500 will receive a growth driver.


18:30 GMT

A press conference will be held by Fed Chairman Jerome Powell. The head of the regulator can share forecasts on economic growth, as well as assessments of the current situation. Against this background, volatility of the foreign exchange and stock markets is possible.

 

Technical Analysis

EUR/CHF

A decline in European Union GDP is not unusual given the current situation. However, the market reaction to the GDP report shows that traders are ready to support the euro. The main reason is the giant injection of regional bonds by the ECB.

Despite the breakdown of the upward trending level, the asset found support in the area of 1.07500. It is possible that the downtrend will resume near the Fibonacci level of 1.08200.

CHF/JPY

The asset returned to the zone below the descending resistance level, which connects the highs from the beginning of the year. This is a very strong bearish signal.

AUD/USD

The currency pair has reached the main local target — the resistance level of 0.70350. High probability of a trend reversal.

 

AUD/USD on this day in history

  • Since 2000, June 10th has been a trading day 12 times.
  • On 41% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 2.56%.
  • The downward trend was limited to 0.9%.

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