Analytics

News, Trends, & Analytics 27.02.2020

Markets are panicking

Today, Erdogan’s military plans, trade relations between the US and India, as well as stock market panic are in the spotlight.

 

News

The market is panicked due to the spread of coronavirus outside of China. Affects S&P 500


The Turkish army plans to push Syrian government troops back in February. Affects TRY


US President Donald Trump and Indian Prime Minister Narendra Modi expressed hope for a speedy conclusion of a trade deal between the countries. Affects S&P 500


Hong Kong reports the first budget deficit in 15 years. Affects Hang Seng


Democratic candidates in the United States are opposed to China’s participation in the construction of important facilities in the country. Affects S&P 500

 

Calendar

13:30 GMT

A preliminary report on the US GDP for the IV quarter of 2019 will be published. A growth rate of 2.1% is expected. Deviation up will positively affect USD.


15:00 GMT

The Pending Home Sales in the US will be released. Experts predict an increase of 2.2%. If the actual result is higher, USD may strengthen.

 

Technical Analysis

Hang Seng

Another massive sell off ended yesterday. The news of the spread of the COVID-19 coronavirus in South Korea, Europe and the US has excited the market. But for the Hong Kong stock index, the situation may be exacerbated by the impact on the economy from long protests that began last summer.

The Hang Seng chart is trying to turn up from the rising support level, but fundamental factors are pushing it down too much.

GBP/CHF

The asset may bounce up as the chart reaches the Fibonacci fan beam.

Dash

Cryptocurrency has lost more than 11% in recent days, but the asset chart may change direction after a collision with the Fibonacci level.

 

USD/JPY on this day in history

  • Since 2000, Feb. 27th has been a trading day 15 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.6%.
  • The downward trend was limited to 1.39%.
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