Analytics

News, Trends, & Analytics 27.10.2020

Quarantine 2.0

Today, the focus is on Lockheed’s problems over Taiwan, Tesla’s plans, and the worsening epidemiological situation.

 

Calendar

12:30 UTC

September durable goods basic orders report will be published. The expected figure is 0.4%. If the real data is lower, the USD will decline.

Assets to trade: USD/CAD, EUR/USD


14:00 UTC

October US Consumer Confidence will be released. The indicator is predicted to be 102 points. If the real data is higher, the USD will rise.

Assets to trade: USD/CAD, EUR/USD

 

News

The EU is tightening quarantine measures, and the United States has broken the record for the number of cases of COVID-19 in one day. Affects the S&P 500


Libya’s National Oil Corporation has announced the resumption of oil production at the field in El Feel. Affects Brent


Tesla plans to ship 7,000 vehicles to Europe. Affects Tesla


The business climate in Germany is declining according to IFO. Affects EUR


Subsidiary Boeing falls under Chinese sanctions for arms sales to Taiwan. Affects Boeing

 

Technical Analysis

Brent

EU countries are gradually tightening quarantine measures due to the worsening epidemiological situation around COVID-19. The United States and other countries also show no signs of stabilization. It is possible that a new wave of the pandemic will lead to total restrictions that the world experienced in the spring of 2020.

Against this background, the pressure on the stock market and the price of black gold is increasing. Technical analysis allows quotes to fall to the level of 40 and below.

EUR/AUD

The pair may continue the uptrend as the chart consolidated above the resistance level at 1.65900.

EUR/NZD

The pair’s chart has formed a head and shoulders pattern, which indicates a likely continuation of the downtrend.

 

EUR/NZD on this day in history

  • Since 2000, October 27th has been a trading day 13 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.75%.
  • The downward trend was limited to 0.89%.
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