Analytics

News, Trends, & Analytics 11.03.2020

Trump promises economic incentives

Today, the focus is on the quarantine in Italy, the OPEC + gap, as well as Trump’s promises to stimulate the economy.

 

News

Trump promises new economic incentives as part of his re-election campaign. Affects USD


Italy enforces a hard quarantine to combat coronavirus. Affects EUR


The Japanese government provides $4 billion to support businesses. Affects Nikkei 225


The Minister of Energy of Saudi Arabia Abdulaziz bin Salman Al Saud sees no reason to hold an OPEC + meeting in May-June. Affects Brent


Tesla plans to expand production in Shanghai. Affects Tesla

 

Calendar

12:30 GMT

The publication of the base Consumer Price Index in the United States will take place. The indicator is expected to grow by 0.2%. Deviation up will positively affect the USD.


14:30 GMT

There will be data on changes in crude oil reserves in the United States. An increase of 1.848 million barrels is projected. If the real amount higher, Brent crude oil may decline in price.

 

Technical Analysis

S&P 500

Donald Trump will do everything to support the country’s economy ahead of the election. The promise the American leader to increase incentives is already embodied in the next Fed rate cut, but now the market is talking about a likely reduction in the tax burden on the population. If this decision is made, the US public debt runs the risk of growing tremendously.

However, on the S&P 500 chart, the MACD has shown bullish divergence. A positive signal was also given by the chart, having stayed above the support level of 2800.

Gold

The precious metal may decline in price after traders failed to break the upward resistance level. It is possible that quotes will fall to 1600 and below.

CHF/JPY

The situation on CHF/JPY stabilized and quotes returned to the area above 111,600. A bullish rebound could rise up to 113,000.

 

CHF/JPY on this day in history

  • Since 2000, Mar. 11th has been a trading day 13 times.
  • On 53% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.5%.
  • The downward trend was limited to 0.91%.
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