News, Trends, & Analytics 08.10.2020

The US is not the place for cryptocurrencies.

Today, the focus is on the termination of negotiations on new incentives in the United States, the impending storm in the Gulf of Mexico, as well as statements by the co-founder of Ripple.



12:30 UTC

A report on the number of initial applications for unemployment benefits in the United States will be published. Forecast: 820 thousand. If the real data turn out to be higher, the USD exchange rate may decline.

Assets to trade: EUR/USD, USD/JPY

23:50 UTC

Japan’s Q2 GDP report will be published. The indicator is expected to decrease by 7.9%. If the bottom line is lower, JPY will come under pressure.

Assets to trade: EUR/JPY, USD/JPY



US crude oil inventories increased by 500 thousand barrels. Affects Brent

Ripple could leave US jurisdiction. Affects Ripple

Oil workers prepare for a serious storm in the Gulf of Mexico. Affects Brent

Boeing significantly lowers its forecast for commercial aviation demand. Affects Boeing

The end of negotiations on new economic stimulus in the US could deal a hard blow to the stock market. Affects the S&P 500


Technical Analysis


According to Chris Larsen, co-founder of Ripple Labs, the company may leave US jurisdiction as the project faced serious regulatory restrictions. Perhaps Ripple will move to the UK or Singapore in order to implement plans for closer integration with large banks.

Against this background, the cryptocurrency rate rose slightly, but it is worth noting that the downward resistance level was broken not so long ago. Perhaps the coin will rise to 0.27 in the near future.


Oil quotes in the near future may sink to 40.70 amid negative news from the US to end negotiations on new measures to support the economy. However, it will be reasonable to return to buying from 40.70 due to the passing Fibonacci level.


The currency pair may soon reach the support level of 0.86000. Traders have a great opportunity to play out a fairly long trend.


NZD/CAD on this day in history

  • Since 2000, October 8th has been a trading day 13 times.
  • On 69% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.74%.
  • The downward trend was limited to 1.83%.
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