Analytics

News, Trends & Analytics 26.08.2020

Alibaba plans double IPO

Today in the spotlight — the US and China will stick to the trade agreement, Germany urged Turkey and Greece to come to an agreement, and also — Alibaba’s plans to conduct an IPO of its fintech division.

 

Calendar

15:30 UTC

A report on basic US durable goods orders for July will be released. The indicator is expected to grow by 2%. If the real data is lower, the USD may receive a negative push.

Assets for trading: USD/CAD, EUR/USD


17:30 UTC

There will be a report on US crude oil reserves. A decline of 3.833 million barrels is projected. A reading below 0 will have a positive impact on the price of Brent crude.

Assets for trading: Brent, Chevron, Exxon Mobil.

News

Germany has called on Turkey and Greece to negotiate energy production in the eastern Mediterranean. Affects TRY


Alibaba’s fintech Ant Group is planning IPOs in Hong Kong and Shanghai. Affect Alibaba


Iranian authorities held talks with the IAEA. Affects Brent


The US and China will adhere to the terms of the first phase of their trade agreement. Affects the S&P 500


Nintendo plans to release an updated console. Affects Nintendo

Technical Analysis

Alibaba

Alibaba’s fintech Ant Group plans to conduct IPOs on the Hong Kong and Shanghai exchanges. It is reported that the company’s annual revenue growth exceeds 1000%.

Investment firm Barclays predicts Alibaba shares may reach $320. Technical analysis also speaks to the strengthening of the shares, as the upper boundary line was broken.

Brent

After the breakdown of the resistance level of 46.00, the asset can reach the upward resistance level, which takes place in the area of 47.50.

EUR/CHF

The currency pair is trading within the channel 1.07400 – 1.08400. The probability of another upward movement to the upper border is high.

EUR/CHF on this day in history

  • Since 2000, Aug 26th has been a trading day 12 times.
  • On 66% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 2.52%.
  • The downward trend was limited to 0.36%.
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