Analytics

News, Trends, & Analytics 05.11.2020

China to increase imports

Today, the focus is the UK lockdown, the economic response to the US election, and China’s import plans.

 

Calendar

07:00 UTC

The BoE will release its interest rate decision. If the rate is lower than it already is, the GBP could drop.

Assets to trade: GBP/USD, GBP/AUD


19:00 UTC

The Fed’s interest rate decision will be announced. If higher than 0.25%, the USD may weaken.

Assets to trade: EUR/USD, USD/AUD

 

News

Markets could face a disruption in January if Britain and the European Union fail to agree on continued two-way cross-border access. Affects FTSE 100


The closer than expected election results in the US lead to a bump in European stocks. Affects DAX


British lawmakers approved a month-long lockdown in England. Affects GBP


Chinese President Xi Jinping said China will import over $22 trillion worth of goods over the next decade. Affects Hang Seng


U.S. Treasuries and the dollar gained as investors realized that if Joe Biden were to win the White House, may not have the support to push through the fiscal stimulus package. Affects USD

 

Technical Analysis

EUR/GBP

As the UK heads into its month-long lockdown the pound has gained against its regional counterpart. Though facing the same perils the EU simply has more cause for concern.

On the four hour chart, the pair has bounced away from its sloping support line, but it won’t likely break the resistance level.

Gold

The chart has shown a Three Outside Down figure indicating a continuation of the downtrend.

Nasdaq

Quotes have rebounded from the support level with a Three Outside Up figure and could continue to rise.

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