News, Trends & Analytics 27.08.2020

Today, the focus is on Jerome Powell’s speech in Jackson Hole, the fears of the head of the Federal Reserve Bank of Kansas, as well as the strengthening of the storm “Laura”.

 

Calendar

12:30 UTC

A preliminary report on US GDP for the second quarter will be published. The indicator is expected to decrease by 32%. If the real data comes out with a deviation in the positive direction, the USD will receive a growth push.

Assets for trading: EUR/USD, AUD/USD, USD/CAD


13:10 UTC

US Federal Reserve Chairman, Jerome Powell, will deliver a speech at the Jackson Hole Economic Symposium. The event can cause an increase in volatility in the currency and stock markets.

Assets for trading: Gold, S&P500, GBP/USD


14:00 UTC

The index of Pending Home sales in the US real estate market for July will be released. Growth is forecast at 3%. If the real data turns out to be lower, the USD may decline.

Assets for trading: EUR, GBP/USD

 

News

2,000 Indian online sellers have filed an antitrust complaint against Amazon. Impacts Amazon


The Turkish President refused to seek compromise on resource extraction in the eastern Mediterranean. Affects TRY


Kansas Fed Governor Esther George sees big risks of a recession if the COVID-19 situation worsens again. Affects the S&P 500


The storm “Laura” is moving towards the Gulf of Mexico. Affects Brent


Investment firm Wedbush raised its forecast for Apple shares to $600. Impacts Apple

 

Technical Analysis

Brent

The oil producer in the United States reduced the volume of production of raw materials against the backdrop of the raging storm “Laura”, which caused a confident increase in quotations. In addition, the American Petroleum Institute reported a day earlier about the decline in black gold reserves.

If we focus on the Fibonacci levels, calculated by the maximum and minimum since the beginning of the year, we can conclude that the Brent price will continue to strengthen.

EUR/AUD

The further trend of the asset will depend on whether the support level of 1 is broken. If the quotes drop below this reference point, we can see a long downtrend to 1.

NZD/CHF

We expect the growth of the currency pair to the previously broken support level of 0.

NZD/CHF on this day in history

  • Since 2000, Aug 27th has been a trading day 13 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1%.
  • The downward trend was limited to 1%.

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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