Tue, September 26, 2023

Daily Market Charts and Analysis January 17, 2020

Market Charts and Analysis

Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today.


The pair is trading with very minimal volume in recent sessions. The 50-day moving average is heading steeply downward, indicating prevalent bearish sentiment for the pair. Over in Hong Kong, the latest protests aren’t with posters and protests, with people voting with their wallets. The city’s economy has previously sunk in the second and third of 2019, recording a technical recession and the first time in a decade that its economy declined for two quarters in a row. Businesses have faced declining sales. Phone apps have been showing up, and these apps are showing apps of businesses believed to be supporting protest and those that are not. Most businesses have taken damage to their sales because of the slowing economy and fewer tourists. For instance, Chow Tai Fook, which is one of the biggest jewellery retailers, announced that it would close a number of its stores.



The pair has been trading in tight ranges in the latest trading sessions, with bears and bulls apparently reluctant to take the lead. For fundamentals, in spite the challenging year that suffered with global economic uncertainties, the city state beat expectations for investment commitments last year. Last year, Singapore $15.2 billion in investments. These investments are expected to create more than 32,000 jobs over the coming years, according to Economic Development Board’s (EDB) announcement in its year-end review. The vast majority of these jobs will be for Singaporeans, according to Trade and Industry Minister Chan Chun Sing. This would be similar to the trend between 2015 and 2018. Around 60,000 jobs popped out during the period. Around 50,000 jobs of those went to Singaporeans, according to minister Chan. Large manufacturing investments from semiconductor, energy, and chemicals were key to the rise in investment.



The pair is trading near record highs, trading just below a solid resistance line and near the 50-day moving average. For the euro side, European Central Bank’s top officials said that economics growth remains weak. But they also said they saw a few upbeat signs after the US and China moved toward lowering trade tensions. Recent data indicate “a stabilization in euro area growth,” according to an account of the December 12 policy meeting that was released on Thursday. Over in Denmark, consumer price inflation recently rose marginally in December. Meanwhile, industrial production fell steeply in November, headed by a slump in the pharmaceutical industry, according to data from Statistics Denmark. The CPI rose 0.8% year-over-year in December, following a 0.7% increase in November. In the quarter that ended in November, industrial production rose 0.4% from the previous quarter.



The pair is heading downwards, with the Turkish lira strengthening against the euro. Next price movement could hit the 50-day moving average, which has converged with its 200-day counterpart. Over in Turkey, the central bank slashed its key interest rate by 75 basis points to 11.25% on Thursday. Although it was a cut, it was the bank’s most retrained move since it started easing in July last year. This move indicates that further stimulus would be modest as the economy moves on from a recession. The bank said inflation should slide more than expected in 2020, clearing the way for the latest cut and more in the months ahead. Analysts believe that the bank may moderate the pace of the easing over months, but it would not implement an outright pause. The bank described the cut as “measured” and said inflation is headed “broadly in line” with its earlier forecast of 8.2% by year end.



Virtual Christmas: Using technology to have fun

Innovative technology has become a cornerstone of progress in our rapidly evolving

Global Markets and Crude Oil Prices Affected Indian Rupee

The swift economic expansion of India, outpacing other major economies, faces a

Silver prices up

The precious metals market remains an arena of interest for investors seeking


Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
  • Platform
  • Spreads
  • Trading Instument



Broker News

Axi Debuts Proprietary Trading with Attractive Profit Split

Axi, formerly known as AxiTrader, is boldly stepping into the proprietary trading arena despite the sector’s current turmoil following actions against My Forex Funds. The Australian Forex and CFDs broker has launched a proprietary