Analytics

News, Trends, & Analytics 18.03.2020

Countries discuss economic incentives

Today, the focus is on the terrible macroeconomic statistics, Goldman Sachs forecasts, as well as the economic incentives used by different countries.

 

News

The average salary adjusted for bonuses grew 3.1% in the UK. Affects GBP


In February, US retail sales fell 0.5%. Affects USD


The German economic sentiment index fell to 2011 lows. Affects EUR


Goldman Sachs forecasts China’s economy to decline by 9% in the first quarter. Affects AUD


A group of laws may be developed in the United States to introduce new economic incentives. Affects S&P 500

 

Calendar

10:00 GMT

The updated European Union Consumer Price Index will be released. 3% growth is projected. Deviation in a smaller direction will negatively affect EUR.


12:30 GMT

A report will be published on the number of building permits issued in the United States. Experts expect growth of 1.5 million. Exceeding this expectations will contribute to the growth of USD.


14:30 GMT

A report on crude oil reserves in the US will be released. An increase of 2.933 million barrels is forecasted. However, under current conditions, real data can significantly exceed this guideline, which will cause a new wave of Brent decline.


21:45 GMT

A quarterly report on New Zealand’s GDP growth rates for the IV quarter of 2019 will be released. The expected rate of 0.5%. If the actual data is lower, the NZD could come under pressure.

 

Technical Analysis

Basic Dollar Index

The European Union, the UK and other countries are actively introducing measures to support the financial systems of countries, as well as limiting short sales on the stock exchange. These measures may support quotes.

US lawmakers plan in the near future to develop immediately a package of laws that could support the economy. Against this background, the US dollar has traditionally become a haven, which has led to an increase in currency quotes. However, the bullish trend of the Basic Dollar Index cannot last forever – the asset has already reached the resistance level of 99.50.

NTA 18.03 - EN_0

EUR/USD

The EUR/USD chart has formed a “head and shoulders” figure and has already broken through its base. It is possible that the European currency will promptly decline to 1.08000 against the US dollar.

NTA 18.03 - EN_0

S&P 500

Now the focus is on the trading index in the region of 2400. If the level is broken, the stock market will again be waiting for a massive sale.

NTA 18.03 - EN_0

 

EUR/USD on this day in history

  • Since 2000, Mar. 18th has been a trading day 13 times.
  • On 62% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 3.8%.
  • The downward trend was limited to 0.92%.
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