Analytics

News, Trends, & Analytics 31.10.2019

Is the deal delayed?

France responds positively to stimulus, Facebook has accepted its British punishment, & More possible delays for the U.S.-China trade deal.

 

News

Shares around the world slipped off 21-month highs on Wednesday as the prospect of a U.S. rate cut was offset by reports a Sino-U.S. trade deal may be delayed, though a possible $50 billion merger between Fiat-Chrysler and PSA capped European losses. Affects the S&P500


Even as export-dependent Germany heads closer to a recession, strong domestic stimulus is helping France shrug off a global slowdown starkly divergent data on the euro zone’s two leading economies showed on Wednesday. Affects EUR


Talks between Turkish and Russian officials on developments in northeast Syria have concluded and the two delegations have “largely” reached an agreement, Turkish Defence Minister Hulusi Akar was quoted as saying by state media on Wednesday. Affects TRY


The dollar was largely steady against other major currencies on Wednesday as investors braced for a rate cut by the U.S. Federal Reserve and an advance reading of economic growth in the third quarter that could shed light on the rate outlook. Affects USD


Facebook has agreed to pay a 500,000 pound ($644,000) fine for breaches of data protection law related to the harvesting of data by consultancy Cambridge Analytica, Britain’s information rights regulator said on Wednesday. Affects Facebook

 

Calendar

10:00 GMT

The Eurozone CPI (YoY) for October will be published. The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. Affects EUR.


12:30 GMT

The Canadian GDP (MoM) for August will be released. Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. Affects CAD.

 

Technical analysis

Hang Seng

Rumors that a trade deal between the US and China could be carried forward indefinitely leads to increased fears of traders. Under even greater pressure is the Hong Kong economy, which, in addition to external factors, has very serious internal problems.

The index chart formed a double top reversal pattern. Quotes may drop to 2580 in the near future.

BMW

The shares of BMW shows more and more reversal signals. The chart has already left the oversold zone according to the RSI indicator. We expect bearish activity.

NZD/CAD

It is likely that the chart will complete the formation of the reversal figure “triple bottom”.

 

NZD/CAD on this day in history

  • Since 2000, October 31 has been a trading day 15 times.
  • On 46% of those days, the asset ended with growth.
  • The maximum reinforcement range was 0.96%
  • The trend down was limited to 2.03%.
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