Today, the focus is on Tesla’s competition from BMW, UBS’s views on Netflix, and Huawei’s ousting in the U.K.
The U.K. forbids Huawei to participate in the installation of 5G. Affects GBP
BMW will launch mass production of IX35 electro crossovers in China. Affects BMW
UBS believes Netflix shares are overvalued. Affects Netflix
The U.K.’s monthly GDP fell 19.1%, with a forecast of -17.4%. Affects FTSE 100
The United States and South Korea will conduct joint exercises in the South China Sea, despite the objections of Beijing. Affects Gold
Canada’s Core Consumer Price Index will be published. The previous figure was -0.1%. If the real value is above zero, CAD will receive a positive impulse.
The Bank of Canada will decide on the interest rate. This event could lead to increased CAD volatility.
A report on US crude oil inventories will be published. A decrease of 2.2 million barrels is expected. If the real value is lower, the price of Brent may rise.
A press conference of the Bank of Canada will take place. An event can cause an increase in CAD volatility.
New Zealand Consumer Price Index will be released. A decrease of 0.5% is expected. If real data are lower, NZD will decline.
The U.K. refuses equipment for 5G networks, manufactured by Huawei. Thereby Great Britain supported the US position. Now the country will have to replace equipment, but the deadline for this is considerable — until 2027. Nevertheless, China may respond very soon.
Against the backdrop of recent events, as well as a weak monthly report on GDP, the British currency may weaken against the US dollar. This is evidenced by the formed “Double Top” reversal model, as well as the favorable potential to reduce to an upward support level.
Fibonacci levels allow the stock index to decline to 10350, 10027, as well as 9371. In the area of these marks, traders can show increased bullish activity.
The currency pair has several times demonstrated a false breakdown of a strong resistance level, which could mean an approaching bearish trend.
CHF/JPY on this day in history
- Since 2000, July 15th has been a trading day 12 times.
- On 33% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.98%.
- The downward trend was limited to 0.72%.