Analytics

News, Trends, & Analytics 17.03.2020

In March, the Fed rate fell unexpectedly by 1.5%

Today, the focus is on the disunity of OPEC +, a fine for Apple, as well as the decision of the US Federal Reserve to unexpectedly reduce the rate.

 

News

The European Securities and Markets Authority said the bearish trend in the stock market could continue for “weeks.” Affects DAX


French antitrust regulator fines Apple $1.2 billion. Affects Apple


The US Federal Reserve sharply reduced its key rate to almost zero. Affects S&P 500


The head of the Bank of England made it clear that the regulator is ready to take any measures to stimulate the economy. Affects GBP


OPEC + canceled the meeting of the monitoring committee. Affects Brent

 

Calendar

09:30 GMT

A report will be published on the average wage in the UK, including bonuses. 3% growth is projected. A lower percentage will negatively affect GBP.


10:00 GMT

The updated ZEW economic sentiment index in Germany will be released. The expected value is -26.4 points. Any value above zero will help the EUR strengthen.


12:30 GMT

The base retail sales index in the United States will be released. Experts expect growth of 0.2%. Exceeding this value will contribute to the growth of USD.


14:00 GMT

The number of job openings in the US job market from JOLTS will be published. If the amount exceeds the forecast value of 6.467 million will lead to the strengthening of the USD.

 

Technical Analysis

Gold

Stock markets gained hope for a reversal after the US Federal Reserve lowered its key rate immediately by 1%. Such a strong measure led to the collapse of gold quotes. Recall that this precious metal is often in demand in crisis situations.

Technical analysis of the weekly chart allows for the probability of a continuation of the trend down, as quotes have not yet reached an uptrend.

USD/RUB

The fall in oil prices negatively affects the behavior of the Russian currency. USD/RUB has formed an excellent “triangle” that could break into a new leap up if oil does not start to grow.

CAD/JPY

CAD/JPY has formed a continuation figure “flag”. The downward trend will accelerate if quotes update the local minimum – 73.90.

 

CAD/JPY on this day in history

  • Since 2000, Mar. 17th has been a trading day 15 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.43%.
  • The downward trend was limited to 2.45%.
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