News, Trends, & Analytics 21.07.2020

Today, the focus is on a major Ebay deal, rising unemployment in Hong Kong, and progress in negotiations at the EU leaders’ summit.

 

News

The EU leaders reached a number of agreements on the regional economic stabilization fund, which caused an increase in demand for the European currency. Affects EUR


Ebay sells its advertising division for $9 billion to Norwegian group Adevinta. Affects Ebay


Starbucks began selling drinks to Chinese citizens on the Taobao marketplace. Impacts Starbucks


Hong Kong’s unemployment rate surpassed a fifteen-year high. Affects Hang Seng


ECB officials are revising the forecast for the EU’s GDP for the better. Affects EUR

 

Calendar

12:30 GMT

Core Retail Sales for Canada will be released. Growth is forecast at 12%. If the real data is lower, CAD may decline.

 

Technical Analysis

EUR/GBP

The optimism of the European currency was due to market expectations for agreeing on the details of the EU stimulus fund, which will spend €750 billion for its purposes. However, the time has not yet come to resolve all differences. Therefore, EUR/GBP has sharply changed the direction of its trend.

According to technical analysis, the asset will continue to decline to the upward support level. Confidence in the direction is underpinned by declining price highs.

Basic dollar index

Pay attention to the US Dollar as the currency is in a very profitable place to buy. The dollar index is trading at annual lows.

NZD/USD

To implement the idea of investing in the growth of gold, you can choose NZD/USD, which is suitable for sale. The pair has been near the resistance level for a long time, which caused high interest among the bears.

 

NZD/USD on this day in history

  • Since 2000, July 21st has been a trading day 13 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.14%.
  • The downward trend was limited to 2.29%.

Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.

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