NZD/USD is trading above 0.61 after yesterday's quiet holiday which undermined market liquidity. Analysts of ANZ Bank fear that the positions of the kiwi are vulnerable and the pair may gradually give up positions, as now the markets are laying in the prices of improvement in New Zealand, and the slowdown in the global economy will adversely affect the rate of kiwi. NZD/USD, 30 min Pivot: 0.6195 Analysis: Provided that the currency pair is traded above 0.6158, follow the recommendations below: Time frame: 30 min...
According to Andy Haldane, Chief Economist of the Bank of England: The incoming data turned out to be a bit better than the scenario of the Central Bank. In the 2nd quarter the drawdown of the British economy may exceed 20%. Survey results reflect some stabilization, moderate recovery in costs and business sentiment No one's predicting a sharp bounce. Recovery can be V-shaped but at very slow recovery rates. Employment rates may not return to "previous" levels until 2023. The Central Bank is studying the...
Gold prices fell on Monday as signs of renewed economic activity in Europe stimulated demand for risky assets and weakened interest in 'safe havens'. GOLD/USD, 30 min Pivot: 1733.00 Analysis: Provided that the price is above 1725.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1733.00 Take Profit 1: 1742.00 Take Profit 2: 172.00 Alternative scenario: In case of breakdown of the level 1725.00 and the consolidation of the price above this level, follow the...
The beginning of the week promises to be neutral for the currency market and the main currency pair, but locally the mood is not in favor of the euro. A certain risk factor that determines the demand for a "safe" dollar is associated with the complication of relations between the U.S. and China. This will be clearly seen if China allows the approval of a bill to ban separatist and other terrorist activities in Hong Kong. The bill is expected to complicate people's rights and freedoms and ultimately lead to mass...
The race to create a COVID-19 vaccine is gaining momentum, encouraging investors to diversify their positions in the health sector. Trade tension between the US and China is once again in the focus of traders. As for the economic calendar, the weekly unemployment claims report is still the main news. Moreover, the Fed head Jerome Powell will speak on Friday about US economy and on Wednesday Fed will publish its "Beige Book". Meanwhile, European Commission is to release its plan to fight the pandemic, and retail revenue...
