Analytics

News, Trends, & Analytics 21.04.2020

US oil sets anti-records

Today, the focus in on Russia’s plans to attract more investments, increasing unemployment in Hong Kong, and a drop in oil prices.

 

News

Russia will seek to attract maximum investment in public debt. Affects RUB


WTI oil price dropped to its lowest level since 1999. Affects Brent 


Japan will increase economic incentives. Affects JPY


Hong Kong’s unemployment rate peaked over the last 9 years. Affects Hang Seng


Chinese CDB Financial canceled purchase 29 Boeing 737 MAX aircraft. Affects Boeing

 

Calendar

09:00 GMT

Germany releases its ZEW economic sentiment index. If the real number is lower than -42.7, the EUR may respond with a decrease.


12:30 GMT

Canada releases its core retail sales index. The forecast is 0.3%. If the real number is lower, the CAD may decline.


14:00 GMT

US releases a report on existing home sales. If the reading is lower than 5.3 mln, it will be a negative driver for the USD.

 

Technical Analysis

Brent

The WTI oil continued to fall, as investors are afraid of the consequences of an increase in stockpiles. Recall: U.S. oil reserves surged by more than 19 million barrels last week. In addition, US companies’ earnings season, which has just started, may put oil quotes under pressure.

Brent has been resisting for quite a long time, not willing to copy the dynamics of WTI, but the bulls did retreat. The asset chart broke the lower border of the small channel and may now move towards the local minimum – 26.

EN_0

Bitcoin

The cryptocurrency chart occasionally happens to get below 7000, which is caused by active sales. However, a breakthrough of the upward level be confirmed only if it falls to 6500.

EN_1

Gold

Technically, bears have a successful moment to enter a trade while the quotes are about to fix below 1700. In this case, the nearest support level is about 1575.

EN_2

 

Gold on this day in history

  • Since 2000, April 21st has been a trading day 13 times.
  • On 61% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 3.04%.
  • The downward trend was limited to 1.2%.
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