News, Trends, & Analytics 30.06.2020

Today, the focus is on the growth of inflation in Germany thanks to news from the service sector, Boeing test flights, as well as Facebook boycott.

 

News

Inflation rate in Germany has risen more sharply than expected. Affects EUR


Boeing is reportedly testing its infamous 737 MAX. Affects Boeing


Exxon Mobil plans to downsize staff after a performance review. Affects Exxon Mobil


Companies are joining boycott of advertising on Facebook. Affects Facebook


Hong Kong’s exports continued to decline in May. Affects Hang Seng

 

Calendar

09:00 GMT

The EU consumer price index will be released. Predicted to increase by 0.1%, if the real data is higher the EUR might increase.


12:30 GMT

Canada’s GDP (MoM) will be released. Predicted to decline by 13%, if the real data is higher the CAD may increase. 


14:00 GMT

The CB consumer confidence index will be released. Predicted to come in at 91.8, if the real data is lower USD may decline.


16:30 GMT

Chair of the Fed Jerome Powell will deliver a speech. This event may have an impact on the trading session.


23:50 GMT

The Tankan large manufacturers’ sentiment index will be released. A negative value can have a negative impact on JPY.

 

Technical Analysis

Facebook

It all started on June 28th, when the world’s largest advertiser Unilever Plc announced it will halt its cooperation with Facebook. The company’s lead was followed by Coca-Cola, PepsiCo, Honda and other companies. The Facebook administration was accused of inaction over racism speech.

Against this background, the company shares sank by more than 10%. However, the breakdown of the “Head and Shoulders” pattern signals that the negative trend will continue.

EUR/CAD

The bullish trend may continue as there is still potential for moving to the upper limit of the channel.

AUD/CAD

The chart is likely to show a steady downward trend to the support level at 0.92860.

 

AUD/CAD on this day in history

  • Since 2000, June 30th has been a trading day 30 times.
  • On 61% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.17%.
  • The downward trend was limited to 0.98%.

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