Today, the focus is on zero growth in Germany’s GDP in the fourth quarter of 2019, warnings from the head of WHO, and Trump’s visit to India.
German GDP for the IV quarter of 2019: 0.0% with a forecast of 0.1%. Affects EUR
Donald Trump predicted a market crash if he lost the presidential election. Affects S&P 500
A Reuters poll showed that economists forecast Turkey’s GDP growth rate in 2019 to be at 5%. Affects TRY
India has entered into military contracts with the United States for $3 billion. Affects the S&P 500
The head of the World Health Organization warned of a pandemic due to COVID-19. Affects Gold
ECB President Christine Lagarde will deliver a speech. This event may cause an increase in EUR volatility.
A report on new home sales in the United States will be published. The indicator is forecast at 710,000. Deviation above the prediction will positively affect the USD.
There will be data on changes in crude oil reserves in the United States. If the report shows an increase of more than 2.467 million barrels, Brent oil quotes may decline.
Donald Trump paid an official visit to Delhi to begin the process of negotiations on bilateral trade relations. Most likely, the team of the US president will insist on eliminating the imbalance in trade volumes. And apparently, India does not seek to be indignant. Yesterday, Delhi announced readiness to buy $3 billion worth of American weapons.
Investors see the asset’s price fall to the support level. Perhaps the bulls are reactivating.
USD/JPY reversed sharply from the resistance level of 112.00. Now the downtrend may continue to 105,250.
The price of the asset has lost support from the Fibonacci level, so black gold quotes go straight to 54.77.
USD/JPY on this day in history
- Since 2000, Feb. 26th has been a trading day 14times.
- On 64% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.98%.
- The downward trend was limited to 0.71%.