Analytics

News, Trends & Analytics 20.08.2020

Record highs

Today’s focus is on the OPEC+ meeting, British entanglement in EU finances, and Apple’s record-breaking day

 

Calendar

12:30 UTC

US Initial Jobless Claims will be released. There are expected to be 925K new applicants, a lower result could boost USD.

 

News

Japan’s Nikkei 225 eked out small gains on Wednesday, as some technology firms rallied after U.S. tech giants drove the S&P 500 to a record peak overnight. Affects Nikkei 225


OPEC+ oil producers and allies such as Russia, met on Wednesday to review compliance with production reductions to support oil prices amid the coronavirus pandemic. Affects Brent


No new high-level trade talks have been scheduled between the United States and China but the two sides remain in touch about implementing a Phase 1 deal. Impacts Gold


London will remain a big part of Europe’s financial market plumbing well beyond Brexit as the coronavirus pandemic has shown. Affects GBP


Apple Inc became the first publicly listed U.S. company with a $2 trillion stock market value on Wednesday. Impacts Apple

 

Technical Analysis

Apple

The tech giant has seen better pandemic than most. As many companies have struggled, Apple has risen to new heights.

The continued uptrend has no new resistance level and could keep climbing.

Brent

Oil has been within a channel of uncertainty, as countries look to work together the price could continue to rise.

Nikkei 225

The Japanese index has shown a Bullish Engulfing pattern, indicating strength in the uptrend.

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