News, Trends, & Analytics 10.09.2020

Today, the focus is on new US sanctions against Chinese companies, Boeing’s problems, as well as stopping trials of the COVID-19 vaccine.

 

Calendar

11:45 UTC

The ECB will decide on the interest rate. It is expected that the indicator will remain at the previous level of 0%. However, the event may cause an increase in the volatility of the EUR currency pairs.

Assets for trading: EUR/USD, EUR/CAD


12:30 UTC

The number of initial claims for unemployment benefits in the United States will be published. The indicator is predicted to be 846 thousand. If the real data turns out to be lower, the USD will receive a positive impulse.

Assets for trading: EUR/USD, USD/CHF


15:00 UTC

The report on changes in US crude oil reserves will be published. A decline of 1.075 million barrels is expected. If the real information shows more contraction, Brent will receive a positive stimulus.

Assets for trading: Brent, ExxonMobil

 

News

AstraZeneca has discontinued trials of the COVID-19 vaccine due to a sudden allergic reaction in one of the volunteers. Affects the S&P 500


The United States may impose a ban on the import of cotton from Chinese Xinjiang due to the infringement of the rights of Uyghur Muslims. Affects Gold


Apple will hold a presentation of new products on September 15. Impacts Apple


Boeing reports problems with the 787 Dreamliner. Affects Boeing


Deutsche Bank has raised the rating of shares of Tesla’s main competitor — China’s NIO. Affects Tesla

 

Technical Analysis

Johnson & Johnson

British company AstraZeneca, which is developing a vaccine against COVID-19 in conjunction with the University of Oxford, announced the suspension of trials. The reason for this was an unexpected allergic reaction to the drug in one of the volunteers.

Delays in vaccine development could lead other companies such as Johnson & Johnson to the top. And as a result of the change in the situation, the demand for the company’s securities will increase. In addition, many investment companies expect quotations to rise to the 160–170 range. Nevertheless, 146.25 may become a profitable entry point.

AUD/JPY

The asset received bullish momentum from the upward support. The boundaries of the range allow for the strengthening of quotations to 79.00.

USD/CAD

The chart of the currency pair has broken through the inclined level of the trend, which indicates the likely strengthening of the asset.

 

USD/CAD on this day in history

  • Since 2000, Sept 10th has been a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.61%.
  • The downward trend was limited to 0.54%.

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