News, Trends, & Analytics 12.06.2020

Today, the focus is on the Fed’s pessimistic statements, rising unemployment in Sweden, as well as bitcoin futures.

 

News

The U.S. Federal Reserve plans to support the economy for years. Affects the S&P 500


Sweden’s unemployment rate has risen to its highest level since 2010. Affects EUR


The largest cryptocurrency exchange has launched quarterly Bitcoin futures. Affects BTC


Morgan Stanley expects lower interest rates from the Bank of England, below zero. Affects GBP


The United Kingdom is beginning to emerge from quarantine restrictions. Affects FTSE 100

 

Calendar

06:00 GMT

The U.K.’s monthly GDP report will be published. It is expected to decrease by 18.7%. If the real data is higher, GBP may strengthen.

 

Technical Analysis

Bitcoin

The launch of Bitcoin futures of one of the largest cryptocurrency exchanges can lead to an increase in asset volatility, since buying futures is cheaper than buying Bitcoin.

In the coming days, we may see a breakdown of the psychological level of 10,000.

 

Basic dollar index

The U.S. dollar index has reached its support level. This indicates a possible change to a bullish trend.

AUD/USD

The currency pair’s chart formed the “Double Top” reversal formation. There is a high probability of a continuation of the trend for the weakening of AUD.

 

AUD/USD on this day in history

  • Since 2000, June 12th has been a trading day 14 times.
  • On 57% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.03%.
  • The downward trend was limited to 1.27%.

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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