Analytics

News, Trends, & Analytics 30.04.2020

The U.S. GDP was worse than expected.

Today, the focus is on Boeing attracting investors, an SEC investigation into Luckin Coffee, and a preliminary estimate of the U.S. GDP.

 

News

The preliminary report on the U.S. GDP in the 1st quarter showed a decrease. Affects USD


Boeing is considering a bond issue to attract large investments. Affects Boeing


The U.S. Securities Commission is investigating the Chinese company Luckin Coffee — the main competitor to Starbucks. Affects Starbucks


The economic confidence index in Turkey fell from 91.8 points to 51.3. Affects TRY


Russian President Vladimir Putin met with heads of oil companies. Affects Brent

 

Calendar

09:00 GMT

The preliminary reports on the Eurozone Consumer Price Index will be published. Forecast: growth by 0.1%. If the real percentage is lower, EUR may respond with a decline.


11:45 GMT

The ECB will decide on the interest rate. The regulator is unlikely to change the rate, but the event may still cause an increase in the volatility of EUR.


12:30 GMT

There will be a report on the number of initial applications for unemployment benefits in the United States. 3.5 million new applicants are expected. If the data is lower, the USD will receive a positive stimulus.

 

Technical Analysis

AUD/USD

A preliminary estimate of US GDP for the 1st quarter of 2020 showed a 4.8% decline with a forecast of -4%. However, the market did not show its disappointment. Traders were probably ready for such news and have already played them.

Against this background, the US dollar may counterattack, which will be reflected in a decrease in AUD/USD quotes. However, the downward trend is limited by an upward support level near 0.64000.

NTA 30.04 - EN_0

Bitcoin

The bullish cryptocurrency trend can continue up to 9000–9500. Near this reference point is a downward resistance level.

NTA 30.04 - EN_0

USD/MXN

This asset is in the process of forming the figure “triple top”. The first target price of the downward trend is the support level of 23.40. If it is broken, the currency pair may fall into a long-term bearish trend.

NTA 30.04 - EN_0

 

USD/MXN on this day in history

  • Since 2000, April 30th has been a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.71%.
  • The downward trend was limited to 0.57%.
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