Analytics

News, Trends, & Analytics 31.01.2020

The coronavirus came to India.

Today, the focus is on reducing the number of unemployed in Germany, the Coca-Cola report, as well as the virus “in” to India.

 

News

Germany has reduced the number of unemployed. Affects EUR


The Bank of England kept the key rate unchanged at 0.75%. Affects GBP


Coca-Cola’s revenue exceeded expert estimates thanks to increased demand for coffee, tea and other low-sugar soft drinks. Affects Coca-Cola


The first case of coronavirus was recorded in India. Affects Brent


According to preliminary estimates, Mexico’s GDP for 2019 fell by 0.3%, Affects MXN

 

Calendar

10:00 GMT

Preliminary data on the European Union Consumer Price Index will be published. A rate above 1.4% will positively affect the dynamics of EUR.


13:30 GMT

The Canadian GDP growth report for November 2019 will be released. The forecast is 0.1%. If the rate is higher, CAD will receive a growth driver.

 

Technical Analysis

Brent

China has mobilized gigantic resources to fight the coronavirus, but the number of victims continues to increase. In addition, the geography of its distribution is growing, and Russia even closed its border with China. Probably, the situation is still far from being resolved, but the markets continue to be nervous.

The nearest level of support for Brent crude oil is located at around 56.10, about $1.2 below its current price.

Gold

Gold is pushing towards the upper boundary of the ascending channel.

GBP/USD

The pair has grown sharply since the publication of the Bank of England decision on the interest rate.

 

Gold on this day in history

  • Since 2000, January 31st was a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.28%.
  • The downward trend was limited to 0.98%.
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