Today in the spotlight – a new U.S. stimulus package, the forecast for a decline in Spain’s GDP, and the OPEC+ deal extension.
Additional restrictions under the OPEC+ deal have been extended until the end of July. Affects Brent
The Bank of Spain predicts a 15% decline in the country’s GDP this year. Affects EUR
Saudi Arabia rejected an idea of extra voluntary oil-production cut. Affects Brent
Japanese Prime Minister Shinzo Abe expressed concern over what was happening in Hong Kong. Affects Hang Seng
U.S. President Donald Trump intends to ask Congress to pass more economic stimulus. Affects USD
The US releases a report on Job Openings and Labor Turnover Survey (JOLTS). If the reading is higher than 5,375 mln, USD might increase.
The OPEC+ countries decided not to take risks and extended additional restrictions on oil production. However, Saudi Arabia rejected this idea, which led to a drop in quotes.
Brent crude might fall to the previously broken resistance level at 37.
The asset chart broke the lower boundary of the rising channel. If the quotes hold below 1.07000, bears can get active.
The chart has formed a “pin bar” reversal candlestick pattern. The quotes may fall.
EUR/CHF on this day in history
- Since 2000, June 9th has been a trading day 13 times.
- On 38% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.35%.
- The downward trend was limited to 0.42%.