Analytics

News, Trends, & Analytics 06.09.2019

The first days of the German recession

Apple Inc is in the bond business, Russia plans to capitalize on a lapsing treaty, & Concern for the slowing German economy is growing.

 

News

There was a bigger-than-expected drop in German industrial orders in July, suggesting that struggling manufacturers could tip Europe’s biggest economy into a recession in the third quarter. Affects EUR


President Vladimir Putin said that Russia would produce missiles that were banned under a landmark Cold-War era nuclear pact that ended last month, but Moscow would not deploy them unless the U.S. did so first. Affects RUB


The German economy is in the “early days of a slowdown,” the Goldman Sachs Chief Financial Officer Stephen Scherr said on Thursday. Affects EUR


London’s High Court was told on Thursday, British Prime Minister Boris Johnson abused his powers by suspending parliament from next week until shortly before Britain leaves the European Union. Affects GBP


Apple Inc said on Thursday it had sold $7 billion of bonds at yields ranging up to 103 basis points over the equivalent U.S. Treasury on maturities of up to 30 years, its first such debt issues since November 2017. Affects Apple

 

Calendar

10:30 GMT

Russia’s Interest Rate Decision for September will be announced. The Bank Rossii decision on short term interest rate. Affects RUB.


12:30 GMT

U.S. Nonfarm Payrolls for August will be released. 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 Canadian Ivey PMI for August will be published. The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. Affects CAD.


16:30 GMT

U.S. Fed Chair Powell Speaks. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar’s value than any other person. Affects USD.

 

Technical analysis

DAX

Germany is showing more and more negative economic signals. The largest players in the investment business also confirm the main EU economy’s entry into recession.

At 1213.00, the Dax chart met resistance in the form of a Fibonacci level. Against this background, the local positive may end.

CHF/JPY

In the region of 108.750-109.000, a trend change may occur due to a downward resistance level.

Nasdaq

Traders will win thanks to the Triple Bottom figure, an increase in the index quotes is likely.

 

Nasdaq on this day in history

  • Since 2000 September 6th has been a trading day 12 times.
  • On 66% of those days, the asset ended with growth.
  • The maximum reinforcement range was 4.45%.
  • The trend down was limited to 3.79%.
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