Today, the focus is on tightening quarantine in Australia, increasing oil production, and Microsoft’s plans to buy TikTok.
The New Zealand Q2 employment change report will be released. The number of employed people is expected to decrease by -2%. If the data turns out to be worse, the NZD may start to fall in price.
Assets for trading: AUD/NZD, NZD/USD.
Microsoft resumes negotiations to buy TikTok. Affects Microsoft
Australia is tightening quarantine measures in Victoria. Affects AUD
A Chinese company has filed a $1.4 billion lawsuit against Apple for patent infringement on artificial intelligence developments. Impacts Apple
Russia has increased crude oil production. Affects Brent
UK production has been growing at a slow pace since 2017. Affects GBP
News that Microsoft wants to buy TikTok from Chinese company ByteDance has spread to all the world’s leading media. At the same time, CEO of Microsoft Satya Nadella managed to discuss this deal with the US President. Donald Trump has given 45 days to complete the deal, which could be one of the largest in history.
The uptrend of the shares against this background may get a new positive impulse. From the point of view of technical analysis, the target is the level of 220. It is also worth noting that the investment company Wedbush spoke about the upside potential to 265.
The currency pair formed a head and shoulders pattern and broke through the uptrend line. We are waiting for a drop in quotes.
The asset can break through the lower border of the ascending channel. This is evidenced by the weak position of the euro against the US dollar, as well as a false breakout of the upper border.
- Since 2000, Aug 4th has been a trading day 13 times.
- On 61% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.91%.
- The downward trend was limited to 0.52%.