Analytics

News, Trends, & Analytics 28.01.2020

The epidemic begins to affect the economy of China

Today, the focus is on the deterioration of the business climate in Germany, the increase in the number of victims of the epidemic in China, as well as the collapse of the oil market.

 

News

The number of victims of the new Corona Virus has exceeded 80 people. Affects Brent


Germany’s business climate (IFO) unexpectedly declined in January. Affects EUR


Oil-exporting countries seek to rebalance crude production due to an epidemic in China. Affects Brent


A survey of representatives of the National Association of Business Economics shows that the US labor market has peaked. Affects S&P500


Iranian President Hassan Rouhani called Donald Trump and other White House workers “terrorists.” Affects Gold

 

Calendar

13:30 GMT

A report on basic US Core Durable Goods Orders will be published. Experts predict an increase of 0.2%. If the result is lower, the USD may decline.


15:00 GMT

The updated CB Consumer Confidence index from the Confidence Board will be released. If the indicator is above 128.0 points, the USD rate may strengthen.

 

Technical Analysis

Brent

The media report that China’s business and manufacturing activity may decline significantly due to measures taken by the authorities to counter the spread of the virus. This state of affairs negatively affects the cost of oil.

From a technical analysis point of view, the Brent bearish trend may continue. The target is the level of 56.00. The significance of this mark is also confirmed by the Fibonacci level calculated by the maximum and minimum for the period from October 2018 to the present.

FTSE 100

Stock indices adhere to a single negative trend. Please note that the support level for the British FTSE 100 is much lower – in the region of 7200.

Ethereum classic / Litecoin

The Ethereum classic cryptocurrency has grown by more than 10% in recent days. Litecoin may well try to close the gap with ETC. Please note that from the point of view of technical analysis, both assets signal readiness for growth.

 

Gold on this day in history

  • Since 2000, January 28th was a trading day 13 times.
  • On 30% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.82%.
  • The downward trend was limited to 1.26%.
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