Analytics

News, Trends, Analytics 01.11.2019

China has doubts

The British Conservatives have the lead, Turkey’s Central Bank made a big decision, & Chinese officials are uncertain of the deal.

 

News

British Prime Minister Boris Johnson’s Conservative Party lead the opposition Labour Party by 15-17 percentage points, two polls showed on Thursday. Affects GBP


Apple Inc managed to largely stem a fall in China revenue in the September quarter thanks to the release timing of the iPhone 11, a cheaper variant, and a bit of good luck, but analysts said the company’s good fortunes might be shortlived. Affects Apple


North Korea fired two suspected missiles into the sea between the Korean peninsula and Japan on Thursday, according to military officials in Japan and South Korea, ending nearly a month-long lull in testing after denuclearization talks stalled. Affects Gold


Turkey’s Central Bank has used a significant part of its leeway for loosening monetary policy, Governor Murat Uysal said on Thursday, after the bank cut its key interest rate by 1,000 basis points in less than four months. Affects TRY


Chinese officials are casting doubts about reaching a comprehensive long-term trade deal with the U.S. even as the two sides get close to signing a “phase one” agreement. Affects the S&P500

 

Calendar

09:30 GMT

The British Manufacturing PMI for October will be released. The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. Affects GBP.


12:30 GMT

U.S. Nonfarm Payrolls for October will be published. Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Affects USD.


14:00 GMT

The U.S. ISM Manufacturing PMI for October will be issued. The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. Affects USD.

 

Technical analysis

S&P500

Not only do US officials doubt the deal, but the Chinese negotiators also openly expressed doubts about the possibility of signing the agreement in November.

On the asset’s chart formed a bearish divergence on the RSI indicator. We expect a decrease in price to 3025.00

GBP/NZD

Decreasing fractals indicate a gradual increase in bearish influence.

Brent

It seems that the asset will continue to fall, as the chart has formed a “flag” shape, and the RSI has not yet entered the oversold zone.

 

GBP/NZD on this day in history

  • Since 2000, November 1 has been a trading day 15 times.
  • On 36% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.77%.
  • The trend down was limited to 1.11%.
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