Analytics

News, Trends, & Analytics 29.01.2020

Did the Corona Virus hit Apple’s supply?

Today, the attention is on the beginning of a new stage in the hearings on the impeachment of Trump, the desire of OPEC, as well as a possible interruption in the Apple supply chain.

 

News

Trump’s lawyer has finished arguing in defense of his client, so the US Senate will move on to the next stage of the impeachment case. Affects USD


A source from OPEC told Reuters that exporting countries want to maintain restrictions on black gold production until June. Affects Brent


The head of the US Federal Reserve Powell announced a reassessment of the economic prospects of the economy. Affects the S&P500


McDonald’s will expand the US breakfast menu to counter competition. Affects McDonald’s


Due to the spread of the Corona Virus in China, Apple may experience a shortage of products. Affects Apple

 

Calendar

15:00 GMT

An updated index of Pending Home Sales in the US real estate market will be released. If the indicator is above 0.5%, the USD may strengthen.


15:30 GMT

A report will be published on changes in US Crude Oil Inventories. A slight increase of 0.46 million barrels is expected. If real inventory falls below zero, Brent will receive a positive driver.


19:00 GMT

The Fed will announce a decision on the interest rate. It is expected that the regulator will maintain the indicator at the current level of 1.75%. Despite this, there is a high probability of increasing volatility in the foreign exchange market.


19:30 GMT

The US Federal Reserve will hold a press conference, in which its head Jerome Powell will speak. Estimates of the current state of the economy will probably sound, which will have a strong impact on the market.

 

Technical Analysis

Apple

The Bloomberg agency, citing its sources, reported a possible disruption in the production of Apple products. Factory employees may be prohibited from entering production due to the scene. Also in the spotlight will be the publication of the company’s quarterly report. The document will be released after the end of trading in the United States.

Assuming the fact that the company’s shares reached their maximum, according to Fibonacci retracement quotes may drop to 294, 280 or even 254 over the next several weeks.

USD / NOK

Please note that the asset almost reached an important resistance level at 9.20. Near this mark, we expect the activation of sellers.

Gold

Perhaps in the current situation, gold is underestimated, because stock indices continue to decline actively. We believe that the bulls will still prove themselves.

 

EUR/JPY on this day in history

  • Since 2000, January 29th was a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.92%.
  • The downward trend was limited to 1.84%.
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