Analytics

News, Trends, & Analytics 06.08.2020

Oil has renewed highs

Today, the focus is on progress in negotiating new incentives, Disney will release the film Mulan, and Trump’s words about the abolition of payroll taxes.

 

Calendar

12:30 UTC

A report on the number of initial applications for unemployment benefits in the United States will be published. An increase of 1.415 million is forecasted. A downward deviation will contribute to USD growth.

Assets for trading: USD/JPY, USD/CAD, USD/CHF, Gold.

 

News

Chuck Schumer, a senior spokesman for the US Democratic Party, announced progress in negotiations on an economic stimulus package. Affects USD


Disney will screen Mulan amid billions in losses in the quarter. Affects Disney


The head of the Central Bank of Japan Kuroda said about the risk of re-introduction of isolation by countries against the background of the worsening situation with COVID-19. Affects JPY


Oil has renewed highs amid a sharp decline in raw material reserves. Affects Exxon Mobil


Trump could end payroll tax bypassing Congress. Affects the S&P 500

 

Technical Analysis

S&P 500

American President Donald Trump once again distinguished himself with harsh statements. This time it was about the abolition of payroll taxes. After the country’s Congress criticized this idea, Trump decided to remind that he has the right to make this decision unilaterally.

Against this background, the leading US index S&P 500 resumed its positive trend. Overall, the asset could reach 3400 in the next few days.

EUR/GBP

The pair decided to carry out another growth cycle within the channel. For this reason, quotes may rise to 0.91300.

CHF/JPY

Around 116.750, the asset expects a global downward resistance level. Getting ready for a sharp trend change.

CHF/JPY on this day in history

  • On 46% of those days, the asset finished trading with growth.
  • Since 2000, Aug 6th has been a trading day 13 times.
  • The maximum strengthening range was 0.81%.
  • The downward trend was limited to 0.81%.
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