Analytics

News, Trends, & Analytics 01.05.2020

Germany's record unemployment rate

Today, the focus is on reducing McDonald’s revenue, Facebook audience growth, and also a sharp jump in unemployment in Germany.

 

News

McDonald’s reported a 16.7% decline in quarterly earnings. Affects McDonald’s


U.S. President Donald Trump demanded Saudi Arabia reduce its oil supplies, threatening to cancel military assistance. Affects Brent


Record jump in unemployment in Germany: +373 thousand with a forecast of 76 thousand. Affects EUR


Facebook recorded revenue growth and an increase in the audience of the social network to 2.6 billion people. Affects Facebook


The ECB has kept the key rate at 0.25%. Affects EUR

 

Calendar

08:30 GMT

The index of business activity in the manufacturing sector of the U.K. will be published. The expected value is 32.8 points. If the real data is higher, the GBP may strengthen.


14:00 GMT

The index of business activity in the U.S. manufacturing sector will be released. Predicted at 36.9 points. A deviation in a lower direction activates a decrease in USD.

 

Technical Analysis

EUR/USD

The growth of unemployment in Germany by 373 thousand people is a record indicator. At the same time, analysts expected to see a value of no more than 76 thousand. Recent data were worse than indicators of the times of the financial crisis of 2008–2009. It remains to wait for the next report to conclude whether this data is an exception or the first signal of a negative trend.

Meanwhile, the DAX stock index may decline to the lower border of the narrowing channel.

NTA 01.05 - EN_0

Bitcoin

As we expected, the Bitcoin exchange rate has reached the target range near the level of 9000. Now, a trend reversal is possible within the boundaries of the downward channel.

NTA 01.05 - EN_0

EUR/CHF

The asset twice unsuccessfully tried to break through the downward resistance level, but both times returned to the bear zone. We believe that now the downtrend has activated.

NTA 01.05 - EN_0

 

EUR/CHF on this day in history

  • Since 2000, May 1st has been a trading day 15 times.
  • On 43% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.26%.
  • The downward trend was limited to 0.37%.
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