News, Trends, & Analytics 06.08.2019

Oil under the influence of trade confrontation between China and the United States

China’s currency has fallen upsetting President Trump, Oil prices fell due to fears around demand, & Turkey wants to be closer with Asia.



Foreign Minister Mevlut Cavusoglu said on Monday, Turkey wants to expand its diplomatic presence in Asia as the region becomes the economic center of the world, adding that the initiative did not mark a shift away from Western allies. Affects TRY

Calling it “a major violation” U.S. President Donald Trump slammed China’s decision to let its yuan currency breach the key seven-per-dollar level for the first time in more than a decade. Affects Gold

Aa new blockchain network aimed at improving manual and cumbersome supply chain management was announced by International Business Machines Corp (IBM.N) on Monday. Affects IBM

Oil prices fell on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers. Affects Brent

The European Commission is ready to talk with British Prime Minister Boris Johnson, though the deal reached on Britain’s withdrawal from the European Union is the “best possible” and is not up for negotiation. Affects GBP



11:00 GMT

In Brazil, the BCB Copom Meeting Minutes will be released. Minutes of the Monetary Policy Committee (Copom) meeting of the Central Bank of Brazil. Affects ETF MSCI Brazil.

14:00 GMT

The U.S. JOLTs Job Openings for June will be published. It collects data from employers about their businesses’ employment, job openings, recruitment, hires, and separations. Affects USD.


Technical analysis


Investors are selling oil against a background of negative news. The decline in the US stock market, problems in torus relations between Washington and Beijing can lead to a significant weakening in commodity prices.

Oil has broken through a number of support levels. Ahead is the latest support at the level of 60.00


The RSI on the daily timeframe does not yet show Bitcoin as overbought, so the asset could grow to 12,500-13,000.


The currency pair is likely to bounce off the level of 1.12000. This line previously represented the base of the figure Head and Shoulders


EUR/USD on this day in history

  • Since 2000 August 6th has been a trading day 14 times.
  • On 53% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.82%.
  • The trend down was limited to 1.44%.
Related posts

News, Trends, & Analytics 31.07.2019

The British currency renews the multi-faceted minima against the background of the aggressive rhetoric of Boris Johnson New Prime Minister yearns to be out of the EU at any...

Weekly News 19–23.08.2019

Introducing the most complete review of the upcoming week from analysts Olymp Trade It included both the news of the economic calendar and the world events that in one way or...

News, Trends & Analytics 12.08.2020

The US markets are being driven by recent initiatives by the Trump administration including more assistance to workers and a payroll tax holiday to ease pressure on...
Official Olymp Trade Blog