Analytics

News, Trends, & Analytics 20.02.2020

The Euro continues to decline

Today, the focus is on US sanctions, Erdogan’s statements, as well as negative forecasts in Europe.

 

News

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

 

Calendar

09:30 GMT

The UK retail sales report will be published. If the amount exceeds 0.7%, GBP will receive a boost.


12:30 GMT

The ECB meeting minutes on monetary policy will be published. It may cause an increase in EUR volatility.


13:30 GMT

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.


16:00 GMT

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.

 

Technical Analysis

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

Zcash can grow to a range of 78-80. Traders received a growth driver from the inverted figure “head and shoulders”.

NZD/JPY

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%.
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