{"id":6462,"date":"2020-09-30T12:06:30","date_gmt":"2020-09-30T12:06:30","guid":{"rendered":"https:\/\/errante.net\/?p=6462"},"modified":"2020-09-30T12:06:32","modified_gmt":"2020-09-30T12:06:32","slug":"trading-analysis-ahead-of-non-farm-payroll-30th-september-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/trading-analysis-ahead-of-non-farm-payroll-30th-september-2020\/","title":{"rendered":"Trading Analysis Ahead of Non-Farm Payroll \u2013 30th September 2020"},"content":{"rendered":"\n
World stocks fell and safer assets, such as the yen and dollar, found buyers on Wednesday after a chaotic first U.S. presidential debate and rising COVID-19 cases turned investors cautious, though strong factory surveys boosted China\u2019s markets. <\/p>\n\n\n\n
President Donald Trump and Democratic rival Joe Biden battled fiercely over Trump\u2019s record on the coronavirus pandemic, healthcare and the economy in a bad-tempered first debate marked by personal insults and Trump\u2019s repeated interruptions. <\/p>\n\n\n\n
U.S. stock futures had nudged higher during the debate but then retreated as Trump cast doubt on whether he would accept the election\u2019s outcome if he lost. <\/p>\n\n\n\n
S&P 500 futures were last 0.6% lower, with Dow Jones and Nasdaq 100 futures down by as much as 1%. <\/p>\n\n\n\n
The U.S. dollar crept higher and is set for its best monthly gain since July 2019, while the yen rose 0.2% to 105.50 per dollar, its strongest daily rise in nearly two weeks. <\/p>\n\n\n\n
Britain suffered a record collapse in economic output (GDP q\/q\/) in the second quarter of 2020 when COVID-19 lockdown measures were in full force, though the decline was slightly smaller than first estimated. <\/p>\n\n\n\n
Gross domestic product shrank by 19.8% in the three months to June<\/a>, the Office for National Statistics said, slightly less than the initial estimate of a quarterly 20.4% crash but still more than for any other major advanced economy. <\/p>\n\n\n\n The fall was the biggest since the ONS records began in 1955. Other data has suggested Britain is on course for its biggest annual fall since the 1920s. <\/p>\n\n\n\n Britain\u2019s economy had already shrunk by 2.5% in the January-March period as the country entered lockdown in late March. <\/p>\n\n\n\n Output has rebounded in recent months, but the recovery looks to be fading with rising coronavirus cases and forecasts of a jump in unemployment as the government scales back job support. <\/p>\n\n\n\n Due to regional spikes in COVID, much of Britain is under a partial lockdown which limits people’s ability to meet others not in their households – hitting the hospitality sector in particular – though schools and workplaces remain open. Inflation in the euro zone has missed the ECB\u2019s target, currently set \u201cbelow but close to 2%<\/a>\u201d for years despite increasingly aggressive stimulus from the central bank, which has pushed its main interest rate below zero and bought more than 3 trillion euros ($3.51 trillion) worth of assets. <\/p>\n\n\n\n In her first update on the ECB\u2019s ongoing review of its strategy, Lagarde also opened the door to giving the central bank less time to achieve its elusive goal. <\/p>\n\n\n\n The ECB is widely expected to follow in the footsteps of the Fed, which said last month it would aim for 2% on average, so that periods when prices grow too slowly need to be compensated by times of faster increases, and vice versa. <\/p>\n\n\n\n This Wednesday afternoon more releases from the U.S are expected which means trading opportunities for the USD Crosses & Gold. <\/p>\n\n\n\n The times below are GMT+3. <\/p>\n\n\n\n Potential instruments to Trade:\u202fUSD\u202fCrosses\u202f& Gold.\u202f\u202f <\/p>\n\n\n\n Potential instruments to Trade:\u202fUSD\u202fCrosses.\u202f<\/p>\n\n\n\n Potential instruments to Trade:\u202fUSD Crosses.\u202f\u202f <\/p>\n\n\n\n Potential instruments to Trade:\u202fUSD Crosses.\u202f\u202f <\/p>\n\n\n\n If you have any questions, please email our Education Centre<\/a>.<\/p>\n\n\n\n If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email support@errante.net<\/a>.<\/p>\n\n\n\n We are Errante. Trading made personal<\/strong>.<\/p>\n\n\n\n Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038<\/a>].<\/p>\n\n\n\n
In Europe, the European Central Bank (ECB) President Christine Lagarde set the scene on Wednesday for changing the ECB\u2019s strategy to align it with that of the Federal Reserve, possibly including a commitment to let inflation overshoot after it has been low for too long. <\/p>\n\n\n\nToday’s High Impact Events<\/strong><\/h2>\n\n\n\n
15.15 -\u202fADP Non-Farm Employment Change (U.S.)<\/strong> <\/h3>\n\n\n\n
15.30 \u2013\u202fFinal GDP q\/q (U.S.)<\/strong>\u202f <\/h3>\n\n\n\n
16.45\u202f\u2013 Chicago PMI\u202f(U.S.)<\/strong>\u202f <\/h3>\n\n\n\n
17.00\u202f\u2013 Pending Hone Sales m\/m\u202f(U.S.)<\/strong>\u202f <\/h3>\n\n\n\n