Analytics

News, Trends, & Analytics 26.03.2020

The US will support the economy with $2 trillion stimulus package.

Today, the focus is on the forecast of a 20% reduction in Germany’s GDP, tightening of the quarantine measures in Russia, as well as the approval of the $2 trillion relief package in the United States.

 

News

IFO economist Klaus Wohlrabe says there might be a 20% reduction in the German economy. Affects the EUR


Quarantine measures are tightened in Russia. Affects the RUB


The Senate have agreed on a $2 trillion relief package to support the economy. Affects the USD


China resumed buying liquefied natural gas from the US after a break of a year and a half. Affects Natural Gas


Japan has recorded the biggest jump in the number of COVID-19 cases. Affects Nikkei 225

 

Calendar

13:00 GMT

The minutes of the last Bank of England meeting on monetary policy will be published. The event may cause increased volatility of GBP.


13:30 GMT

The final report on the US GDP dynamics for 2019 will be issued. The growth rate is forecasted to be 2.1%. Deviation to the lower side will lead to a decrease in the USD.

 

Technical Analysis

Gold

The value of the precious metal continues to grow despite the states’ attempts to increase economic incentives. Even the US agreement to deliver $2 trillion in government relief has not added confidence to the market participants.

The quotes will probably reach 1650 in the nearest future. This is what Fibonacci levels are signaling.

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ETF Natural Gas Reversal

ETF Natural Gas Reversal, which monitors the inverse dynamics of natural gas prices, may continue its decline within the “expanding triangle” figure.

EN_0

USD/NOK

One should consider selling this asset. The chart has already broken the uptrend line and is preparing to get beyond the “triangle”.

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USD/NOK on this day in history

  • Since 2000, March 26 has been a trading day 14 times.
  • On 36% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 2.13%.
  • The downward trend was limited to 0.93%.
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