Analytics

News, Trends, & Analytics 2.06.2020

What will the protests in the USA lead to?

Today, the focus is on the discussion of the extension of the OPEC deal, pressure on Zuckerberg from its own employees, as well as protests in the United States.

 

News

Large cities in the United States are seeing large protests and riots in response to police brutality. Affects USD


Sources said that Russia and OPEC countries are close to a decision to extend the agreement to limit oil production by 1–2 months. Affects Brent


Business activity in China’s manufacturing sector continues to recover. Affects Silver


Facebook employees criticize head Mark Zuckerberg for not blocking the posts of U.S. President Donald Trump. Affects Facebook


Goldman Sachs called the sale of the U.S. dollar an attractive deal. Affects USD

 

Calendar

20:30 GMT

A report on weekly Crude Oil Inventories will be published according to the American Petroleum Institute. An amount above 0 will negatively affect the cost of Brent.

 

Technical Analysis

AUD/USD

Against the background of what is happening in the USA, there is a decrease in demand for USD. It is likely that this trend will be short-term, as investors are unlikely to believe that the United States will be mired in endless protests, as was the case, for example, in Hong Kong.

The currency pair has broken through the upward resistance level and is now moving towards the global trend line, passing around 0.68400.

NTA 02.06 - EN_0

Zcash

A bearish pin bar has formed on the daily cryptocurrency chart. We believe this scenario could lead to a quote reduction to 47.50.

NTA 02.06 - EN_0

USD/CHF

There was a false breakdown of the support level of 0.96000, so the likelihood of a bullish trend has increased.

NTA 02.06 - EN_0

 

USD/CAD on this day in history

  • Since 2000, June 2nd has been a trading day 13 times.
  • On 69% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.24%.
  • The downward trend was limited to 1.39%.
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