Analytics

News, Trends & Analytics 01.09.2020

Fed will not change rate

Today, the focus is on Buffett’s rate, the incident on the border between China and India, as well as statements by the head of the Federal Reserve Bank of Minneapolis.

 

Calendar

09:00 UTC

The preliminary value of the European Union Consumer Price Index (CPI) will be published. The forecasted figure is 0.2%. An upward deviation will cause the EUR to rise.

Assets for trading: EUR/USD, EUR/JPY


14:00 UTC

The index of business activity in the US manufacturing sector will be published. The indicator is forecast to strengthen from 54.2 to 54.5 points. If the real data matches expectations or turns out to be higher, the USD may rise.

Assets for trading: USD/JPY, USD/CAD

 

News

Warren Buffett invested $6 billion in Japanese stocks. Affects the Nikkei 225


Chinese authorities may block TikTok sale. Affects Microsoft


Japan’s new prime minister will be elected on September 14th. Affects JPY


An armed clash took place on the border between India and China. Affects Gold


Minneapolis Fed President Neil Kashkari said the Fed does not feel the need to change the interest rate. Affects USD

 

Technical Analysis

Basic dollar index

The statements of the President of the Federal Reserve Bank of Minneapolis Neil Kashkari that there is no reason to change the interest rate is in line with the current market sentiment.

The technical analysis of the US dollar index indicates a likely strengthening of the USD position against the background of the appearance of bullish convergence on the MACD indicator. In addition, the instrument reached the support level of 92.45.

https://lh6.googleusercontent.com/stL6UTzmgEjXBc7Pzneibt-dU0DBk5mSA7ZqykLfv1vzsM9igDLtDzi0muy6ruuzyMu-IUYHkDXlDj9yZweuixrfSpolzZSk-PkaJ_6rkQDM038utXbf2bQ-tdkQAzgQK7jR7Peg

Gold

The quotes of the precious metal can break the upper border of the “triangle” pattern and reach the Fibonacci level, passing in the area of 2008.

https://lh4.googleusercontent.com/A0KQ-iryFaP-zusV89-MPF58K6QrdMfl5y4BiU-UsOhFysJUEquPYwomv5E3TEGG2SPgX0SEqxNLSb3sz8Do145PJ1RMwvWh3h2jlXdpzVap3mTO98fDdVXCTTfkNre4WpRGKjW7

USD/JPY

The chart of this currency pair is trading near the upward support level. We expect strengthening of the US dollar against the Japanese yen.

https://lh4.googleusercontent.com/JBu92jaZkDJMFhZWnqowaMHIGlFBo7PVwtW0yYgsbu-CrGsSfc3rM0IEvbRKKPNAzDleMFfVdrReAOMJ6OG17Cy0CzO5zwKaDfexw0mulhM2lOfS_EqGdY5SLoNviEstCdJe7bhr

 

USD/JPY on this day in history

  • Since 2000, Sept 1st has been a trading day 13 times.
  • On 38% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.46%.
  • The downward trend was limited to 1.52%.
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