Analytics

News, Trends, & Analytics 04.10.2019

The Hong Kong police get more powers and authority

The EU does not have much faith in Boris Johnson, Embraer & Boeing to continue negotiations, & Protests in Hong Kong are going stronger than Beijing desires.

 

News

The European Union and Ireland said on Thursday that Prime Minister Boris Johnson’s Brexit proposals were unlikely to yield a deal, with Dublin bluntly warning that Britain was heading towards a no-deal exit unless it made more concessions. Affects GBP


Brazilian planemaker Embraer has delayed its expected timeline for the closing of a major deal with Boeing to early 2020, according to a securities filing on Thursday. Affects Boeing


Hong Kong’s government is expected to discuss sweeping emergency laws on Friday that would include banning face masks at protests, two sources told Reuters, as the Chinese-ruled territory grapples with an escalating cycle of violence. Affects the Hang Seng index


Britain’s economy appears to have slipped into recession as firms brace for the risk of a disruptive Brexit in just a few weeks’ time, according to a survey which showed the dominant services sector took an unexpectedly sharp downturn last month. Affects GBP


Oil fell more than 1% on Thursday, extending the week’s losses as markets were pressured by concerns about weakening global economic growth and oil demand, as well as by signs of excess supply despite OPEC-led cuts. Affects Brent

 

Calendar

12:30 GMT

The U.S. Unemployment Rate for September will be released. The Unemployment Rate measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Affects USD.


14:00 GMT

The Canadian Ivey PMI for September will be published. The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. Affects CAD.


18:00 GMT

U.S. Fed Chair Powell Speaks. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar’s value than any other person. Affects USD.

 

Technical analysis

Hang Seng

If the protests in Hong Kong result in violent suppression, this may cause outrage from the international community.

For this reason, there is a high probability of a breakdown of the upward support level of the index.

AUD/NZD

The downward trend will continue since the asset has broken through its strong upward support level.

Brent

The third consecutive similar pattern showing steep drops for Brent has investors nervous.

 

EUR/USD on this day in history

  • Since 2000 October 4th has been a trading day 14 times.
  • On 50% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.3%
  • The trend down was limited to 0.97%.
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