Analytics

News, Trends, & Analytics 23.04.2020

Additional Investment in the US Economy

Today, the focus is on reducing inflation in the UK, falling Coca-Cola sales, as well as a new package of economic incentives for the United States.

 

News

The US House of Representatives will direct an additional $484 billion to support the economy. Affects S&P 500


Facebook is investing $5.7 billion in Indian holding Reliance Industries to popularize payments through WhatsApp. Affects Facebook


ECB President Christine Lagarde announced the regulator’s readiness to take additional measures to ensure cheap loans, if necessary. Affects EUR


UK inflation fell to a three-month low. Affects GBP


Coca-Cola sales are falling due to closed catering and movie theaters. Affects Coca-Cola

 

Calendar

08:30 GMT

The Manufacturing Purchasing Managers’ Index (PMI): data on business activity in the manufacturing sector of the UK, will be published. A value above 47.8 points will be perceived by the markets as positive news for the GBP.


12:30 GMT

The Initial Jobless Claims report will be released, denoting the number of initial applications for unemployment benefits in the United States. The forecasted amount is 4.2 million. If the real value is higher, USD will receive a negative impulse.


14:00 GMT

The New Home Sales report will be published indicating the number of new home sales in the United States. If the report shows a value above 645 thousand, USD will be able to grow.

 

Technical Analysis

S&P 500

The US continues to generate new economic incentives, but the decision of the US House of Representatives to send an additional $484 billion may be the last measure for an indefinite period of time. Now the government will wait for a reaction to the colossal infusion. Most of the allocated amount will be used to pay salaries to employees of small enterprises.

Meanwhile, the index lingered between two SMAs with periods of 50 and 100. A bullish signal in the current situation will be the return of quotations to the level of 2840.

NTA 23.04 - EN_0

USD/NOK

Please note that the pair’s chart broke through the resistance level of 10.64, which acted as the base of the head and shoulders pattern. If quotes do not fall below this level, the likelihood of accelerating the bull trend will increase.

NTA 23.04 - EN_0

NZD/CAD

The asset adheres to narrowing boundaries, so we recommend taking advantage of the situation, because now the chart is near the upward support level.

NTA 23.04 - EN_0

 

NZD/CAD on this day in history

  • Since 2000, April 23rd has been a trading day 14 times.
  • On 35% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.86%.
  • The downward trend was limited to 1.68%.
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