Analytics

News, Trends, & Analytics 24.01.2020

Chinese authorities shut down two cities

Today, Trump remains in the spotlight, supporting the Senate, a speech by the head of the ECB, and the spread of an epidemic in China.

 

News

Chinese authorities are closing down two cities with a population of 18 million due to an epidemic of the unknown coronavirus. Affects the Hang Seng Index


Media reports say Republican representatives in the US Senate are still opposing President Trump’s impeachment. Affects USD


The Russian parliament supported a constitutional change. Affects RUB


Christine Lagarde spoke about the future policy of the ECB. Affects EUR


Venezuelan opposition leader Juan Guaido asks to stop the export of “blood gold” from the country, admitting the need for new sanctions. Affects Brent

 

Calendar

09:30 GMT

The Services PMI an index of business activity in the UK services sector will be published. Experts predict 49.4 points. If the real data is lower, the GBP rate may decline.


14:45 GMT

The Services PMI the index of business activity in the US services sector will be released. If the indicator is above 52.9 points, the USD may strengthen.

 

Technical Analysis

Hang Seng

The number of people infected with unknown viruses in China alone has reached 600. The number of dead is also growing. The authorities of the PRC took drastic measures and immediately closed 2 cities that became the source of the spread of the virus. Other countries are tightening control over arrivals from China.

Yesterday’s decline in Western stock indices was limited to 0.7%, while the drop in Hang Seng at the moment has exceeded 1.6%. Note that the index does not have a support level up to the price zone in the region of 26750.

Brent

Oil quotes duplicate the dynamics of the stock market, however, Brent has a great potential for decline.

Bitcoin

According to the Fibonacci level, this cryptocurrency can go to a bullish trend in the region of 8200.

 

Hang Seng on this day in history

  • Since 2000, January 24th was a trading day 13 times.
  • On 42% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.42%.
  • The downward trend was limited to 2.29%.
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