Today, the focus is on reducing the number of unemployed in Germany, the Coca-Cola report, as well as the virus “in” to India.
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
Preliminary data on the European Union Consumer Price Index will be published. A rate above 1.4% will positively affect the dynamics of EUR.
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.
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 is pushing towards the upper boundary of the ascending channel.
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%.