Analytics

News, Trends, & Analytics 16.10.2020

What will the tightening of quarantine lead to?

Today the focus is on Morgan Stanley’s successful report, OPEC promises, and tightening quarantine measures.

 

Calendar

12:30 UTC

The benchmark US retail sales for September will be released. Forecast: 0.5%. If the real data turns out to be higher, the USD may rise.

Assets to trade: USD/CHF, USD/CAD

 

News

Morgan Stanley’s profit in the third quarter exceeded the forecasts of experts. Affects Morgan Stanley


OPEC Secretary-General Mohammed Barkindo has promised that there will be no more shocking collapses in the oil market. Affects Brent


The UK and EU are stepping up quarantine measures. Affects the FTSE 100


The US is considering the possibility of imposing sanctions against the Ant Group. Affect Alibaba


France and the Netherlands have called on the EU to take joint action against the monopoly of large IT companies. Affects Google

 

Technical Analysis

Brent

After European countries reported tightening quarantine measures, EU stock indices began to moderately decline. The statistics on COVID-19 really do not please investors: in Italy and Spain, the records for the daily increase in new cases of diseases have been updated. At the same time, pharmaceutical companies are not yet ready to please investors with news about the completion of trials of a vaccine against COVID-19.

Meanwhile, oil prices began to decline. The bearish trend may continue to the lower boundary of the downtrend channel, that is, below $40 per barrel.

Ethereum

The crypto asset began to reverse from the resistance level of 394. Quotes may decline to the lower border of the 315 channel.

NZD/CAD

The fact that the currency pair will continue to decline is indicated by the “pin bar” candlestick pattern on the daily timeframe.

 

NZD/CAD on this day in history

  • Since 2000, October 16th has been a trading day 14 times.
  • On 57% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 2.91%.
  • The downward trend was limited to 1.79%.
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