Today, the focus is on Trump’s threats to deprive the WTO of funding forever, the growth of economic sentiment in Germany, as well as the gradual restoration of economic activity.
A sharp increase in the index of economic sentiment in Germany. Affects EUR
A vaccine for COVID-19 has passed a successful human test in the United States. Affects Gold
G7 finance ministers discuss economic restart. Affects S&P500
U.S. President Donald Trump threatens to stop funding the WTO forever if the organization is not reformed. Affects DAX
Hong Kong’s unemployment rate rose to 5.2%. Affects Hang Seng
The Eurozone Consumer Price Index will be published. The forecast is 0.4%. Deviation up will help EUR to strengthen.
Canada’s basic Consumer Price Index will be released. The previous figure was 0.7%. If recent data is higher, CAD may strengthen.
A report will be published on the changes in U.S. crude oil inventories. An increase of 0.967 million barrels is expected. If the forecast is exceeded, Brent quotes may decrease.
The minutes of the last meeting of the US Federal Reserve on monetary policy will be published. The contents of the document may cause increased volatility of trading.
The gradual recovery of economic activity in the world has a beneficial effect on the behavior of stock indices. The meeting of G7 finance ministers showed that the recovery process has begun.
But in order for the S&P 500 to resume the bull trend, the asset needs to leave the flat zone of 2780-2970.
The asset chart has broken down a support level, which indicates the high probability of an acceleration of a downtrend.
The asset formed an inverted “head and shoulders” figure, so we look forward to the further strengthening the pair.
AUD/CHF on this day in history
- Since 2000, May 20th has been a trading day 13 times.
- On 46% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.85%.
- The downward trend was limited to 2.48%.