Today, the focus is on US sanctions, Erdogan’s statements, as well as negative forecasts in Europe.
The United States has imposed sanctions against a subsidiary of the Russian oil company Rosneft. Affects RUB
The Turkish President Recep Erdogan again expressed dissatisfaction with the cooperation with Russia in Syria and hinted at a new military operation. Affects TRY
The Italian Minister of Economy Roberto Gualtieri warned that the forecast for economic growth of the country by 0.6% in 2020 could be revised down due to the COVID-19. Affects EUR
UK consumer inflation was ahead of forecasts. Affects GBP
President of the Federal Reserve Bank of Dallas Robert Kaplan believes the Fed should maintain its current rate. Affects USD
The UK retail sales report will be published. If the amount exceeds 0.7%, GBP will receive a boost.
The ECB meeting minutes on monetary policy will be published. It may cause an increase in EUR volatility.
The updated index of US manufacturing activity from the Federal Reserve Bank of Philadelphia will be released. Experts predict 12 points. Deviation up will help USD to grow.
A report on US crude oil inventories will be published. An increase of 3.767 million barrels is expected. If the real data is higher, Brent quotes may decline.
EUR / USD
The economies of the EU are slowly slowing down. Even in Germany, signs of a recession were recorded. EU finance ministers agree that the economy needs incentives, but Europe is in no hurry to apply them. Among the recent negative events are the statements from the Italian Minister of Economy Roberto Gualtieri, who predicted the country’s economy may grow by less than 0.6% in 2020.
The use of Fibonacci levels calculated for the maximum and minimum of the last quarter of 2019 shows that the correction of the pair up can begin now.
Zcash can grow to a range of 78-80. Traders received a growth driver from the inverted figure “head and shoulders”.
The asset will continue to grow to complete the formation of the “triple bottom” figure.
EUR/CHF on this day in history
- Since 2000, Feb. 20th has been a trading day 15 times.
- On 46% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.39%.
- The downward trend was limited to 0.82%.