News, Trends, & Analytics 29.10.2020

The second wave hit

Today, the focus is on yet another unsuccessful Boeing quarter, proposals from the European Commission, as well as tightening quarantine measures in France and Germany.



12:30 UTC

Preliminary data on US GDP for the third quarter of 2020 will be released. Forecast: 31% recovery. If the real data is lower, the USD will come under pressure.

Assets to trade: USD/CAD, EUR/USD

12:45 UTC

The ECB will decide on the interest rate. The regulator is expected to keep the key figure unchanged, however, the event may lead to increased volatility in EUR trading.

Assets to trade: EUR/JPY, EUR/CHF

13:30 UTC

ECB President Christine Lagarde will hold a press conference. Volatility in EUR currency pairs is possible.

Assets to trade: EUR/JPY, EUR/CHF



The European Commission has proposed new incentives for the EU economy. Affects EUR

Boeing reported its fourth unprofitable quarter. Affects Boeing

Germany and France are ready to tighten quarantine measures due to the accelerating growth in the incidence of COVID-19. Affects EUR

Visa may be in violation of US antitrust laws. Affects Visa

Apple may step up to create its own search engine. Affects Google


Technical Analysis


Tightening quarantine measures in the countries with the largest EU economies could lead to a prolonged downtrend in the euro and a strengthening of the US dollar.

A month ago, the chart of the currency pair broke the ascending trend line. Now the asset goes beyond the boundaries of the recently formed channel. The long-term target of the pair may be the support level of 1.08000.


The pair reached the support level of 104.200. A trend reversal is possible.


The asset has broken through the upward support level. The pair’s rate may continue to decline.


AUD/NZD on this day in history

  • Since 2000, October 29th has been a trading day 13 times.
  • On 54% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.84%.
  • The downward trend was limited to 1.2%.
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