News, Trends, & Analytics 24.09.2020

Today, the focus is on Johnson & Johnson’s vaccine trials, Musk’s plans to cut Tesla’s cost, and comments from the US Treasury Secretary.

 

Calendar

12:30 UTC

A report on the number of claims for Initial Unemployment benefits in the United States will be published. The forecast is 843 thousand. If the real data turns out to be higher, the USD will receive a negative impulse.

Assets for trading: USD/CHF, EUR/USD


14:00 UTC

A report on US New Home Sales will be released. The indicator is expected to be 890 thousand. If the forecast is exceeded, the USD will receive support.

Assets for trading: USD/CHF, ETF U.S. Real Estate

 

News

Johnson & Johnson begins large-scale COVID-19 vaccine trials with 60,000 volunteers. Affects Johnson & Johnson


Elon Musk has announced new batteries that will reduce the cost of Tesla electric cars. Affects Tesla


Deutsche Bank raised its forecast for Nike shares to $151. Affects Nike


The US Treasury Secretary said the Fed could no longer ramp up its concessional lending program. Affects USD


Increased activity in the German manufacturing sector helped oil rebound. Affects Brent

 

Technical Analysis

Basic Dollar Index

The words of US Treasury Secretary Stephen Mnuchin that the FRS will not increase the lending program contributed to the growth of the American currency. Also, the minister is still trying to achieve the adoption of the next stimulus package.

Against this background, the dollar index may reach the previously broken level of 95

Silver

The price of the metal may continue falling until the upside support level is reached. However, in the near future the asset may return to an upward trend, as the RSI indicator has entered the oversold zone.

NZD/JPY

Possible reversal of the currency pair due to the rising support level.

 

NZD/JPY on this day in history

  • Since 2000, September 24th has been a trading day 13 times.
  • On 53% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.14%.
  • The downward trend was limited to 1.22%.

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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