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.
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
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.
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
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.
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.
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%.