alexa certify

Market News and Charts for January 27, 2020

Hey traders! Below are the latest forex chart updates for Monday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck!


The pair will reverse back in today’s session following last Friday’s weak candle, sending the pair lower toward its previous low. Czechia introduced its digital taxation system during the meeting of the EU’s finance ministers in Brussels. The move by Prague was in addition to the growing number of EU-member states introducing a digital taxation bill. The proposed taxation system targets large US technology companies like Apple, Facebook, and Google. Margrethe Vestager, who led the world’s largest tax case complain against Apple for $14 billion, is currently serving as Competition Minister for the second term under the commission of Ursula von der Leyen. On the other hand, the United States warned that it will retaliate to Czechia in the form of tariffs once the Czech Parliament passed the bill. Under the bill, the government will tax technology companies with more than $100 billion in market capitalization by 7%.

Market News, Market News and Charts for January 27, 2020EUR/CHF

The pair will continue to move lower in the following days toward its 25-month low. The European Union is facing economic crises inside and outside the bloc. Germany is set to report two (2) major business data today, January 27. The Business and Consumer confidence are leading indicators showing the trust that businesses and consumers have with the German economy. Business Confidence will continue to pick up this January after Germany dodged a technical recession last month. However, a sub-index of the report still shows a massive gap between today’s business climate compared to the time when Germany’s growth was still impressing investors. Moreover, Consumer Confidence for the month of January will continue to disappoint investors with the sluggish improvement in the manufacturing sector. The US threat to impose tariff on European car manufacturing industry further added worries among investors.

Market News, Market News and Charts for January 27, 2020EUR/GBP

The pair will continue its downward movement following a failed breakout in the recent trading sessions. PM Boris Johnson promised to “Make Britain Great Again”. This was amid the looming withdrawal of the United Kingdom from the EU on Friday, January 31. His comments came after US Treasury Secretary Steven Mnuchin promised that America will dedicate a lot of resources to secure trading deal with the post-Brexit UK. The UK, on the other hand, is pushing to make new trading relations outside Europe by February 01 on what the PM calls as “unleashing the UK’s potential”. The withdrawal of Britain is a major blow to the ailing EU economy. This was amid the slowdown in the European region, specifically with its economic powerhouse – Germany. To celebrate this significant event in the UK history, a commemorative Brexit coin will be in circulation which reads “Peace, prosperity and friendship with all nations. 31 January 2020.”

Market News, Market News and Charts for January 27, 2020EUR/JPY

The pair will breakdown from a major support line, sending the pair lower toward its 4-month low. The European Union is rushing to form a trilateral trade alliance with the United States and Japan. This was after the post-Brexit United Kingdom poses an imminent threat to the EU economy. As the German economy falters, Britain ascended as the most-likely European country that other economies might agree to make a trading deal with. In relation to this, the three parties (3) agree in a new subsidy rules to pressure China. The subsidies to China’s imports and exports will distort the global economy in favor of the three (3) economies. The agreement came after the US was able to bend China on its will and sign the phase one trade deal with the United States. On the deal was the agreement that China will buy more US goods to minimize trade deficits between the two (2) largest economies in the world.

Market News, Market News and Charts for January 27, 2020

Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

You might also like

Leave a Reply


Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.