Analytics

News, Trends, & Analytics 17.01.2020

The first day after the signing of the trade deal

Today, the focus is on the possible awakening of optimism in the stock market, the introduction of Turkish troops into Libya, and the insurer from the Winklevoss brothers.

 

News

The Winklevoss Brothers Cryptocurrency Exchange has launched its own insurance service to guarantee the protection of customer funds from theft. Affects Bitcoin


In Russia, the new prime minister, and the government has been dismissed. Affects RUB


The Central Bank of Turkey has again lowered its key rate. Affects TRY


The US and China have signed the first part of the trade deal, but the market is in no hurry to rejoice. Affects S&P500


The Turkish President announced the entry of troops into Libya. Affects TRY

 

Calendar

02:00 GMT

An annual report on China’s GDP growth will be published. The results for 2019 are expected to be 6%. Deviation up will positively affect AUD.


09:30 GMT

Scheduled to publish a report on retail sales in the UK. Growth is projected at 0.5%. If the real data exceeds expectations, the GBP will strengthen.


13:30 GMT

The data on the number of issued building permits in the United States. If the data turns out to show more than 1.468 million, then USD will receive some positive stimulus.


15:00 GMT

The number of open vacancies in the US labor market will be announced. More than 7.233 million will positively affect the USD.

 

Technical Analysis

S&P500

If the signing of a trade agreement between the US and China had come as a surprise, the stock market would be oversaturated with bulls. But, Trump mentioned the signing likely to take place in mid-January during talks in late December. Therefore, potential growth was recouped.

Furthermore, traders are afraid to buy. Key technical indicators have long been in the overbought zone.

Bitcoin

The cryptocurrency has outlined the possible boundaries of its channel. Against this background, a slight correction down to 8220 is possible.

USD/TRY

In the area of 5.77, attention should be focused on purchases of the USD/TRY currency pair. Until then, follow the downward direction of transactions.

 

USD/TRY on this day in history

  • Since 2000, January 17th was a trading day 14 times.
  • On 42% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.12%.
  • The downward trend was limited to 1.14%.
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