Today, the focus is on the protests in Hong Kong, the forecasts by the head of the ECB, as well as the anti-crisis fund to save the EU.
EU authorities have submitted a plan for the restoration of the Eurozone for €750 billion. Affects EUR
In Hong Kong, mass arrests of protesters took place. Affects Hang Seng
The U.S. may impose sanctions against China because of the events in Hong Kong. Affects Gold
ECB President Christine Lagarde admits a decline in the EU economy from -8% to -12%. Affects EUR
Tesla cuts electric car prices in North America. Affects Tesla
The next assessment of the U.S. GDP growth in the first quarter of 2020 will be published. A negative figure of 4.8% is expected. If the real data is lower, the USD will be under pressure.
There will be an index of incomplete sales in the U.S. real estate market. Forecast: -15%. Data below expectations may cause additional pressure on the USD.
A report on changes in U.S. crude oil inventories is expected. A decrease of 2.5 million barrels is expected. If the fall volume is higher, Brent will receive a bullish momentum.
The European Commission has proposed to allocate €750 billion for an EU economic recovery program. The program will operate from 2021 to 2027.
The news triggered a positive reaction from the EUR in the foreign exchange market, however, the resistance level of 1.10000 again showed stability. If traders fail to break through it, the asset may begin to decline.
The gold chart went below the psychological benchmark of 1700. In addition, the asset broke through the upward support level. There is a high probability of the continuation of the trend down.
In the region of 0.70900, the asset will provide a favorable entry point for a downgrade transaction, since the chart will be in contact with the upper border of the channel.
CAD/CHF on this day in history
- Since 2000, May 28th has been a trading day 14 times.
- On 71% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.84%.
- The downward trend was limited to 0.49%.