News, Trends, & Analytics 28.07.2020

Today, the focus is on Boeing’s temporary withdrawal of the 777X, Moderna’s progress in vaccine trials, and improving the business climate in Germany.

 

Calendar

14:00 UTC

The Conference Board’s updated U.S. Consumer Confidence Index for July will be released. The forecast is 94.5 points, while the previous report showed 98.1 points. If the new data exceeds expectations, USD may feel positive momentum.

Assets for trading: EUR/USD, USD/CHF, AUD/USD, USD/JPY.

 

News

The business climate in Germany is improving for the third month in a row. Affects EUR


American Republicans have offered to allocate $1 trillion. to pay increased unemployment benefits. Affects USD


Hong Kong authorities are reintroducing stringent quarantine measures due to the new outbreak of COVID-19. Affects Hang Seng


Boeing plans to postpone serial production of the new 777X by approximately 1 year. Affects Boeing


Moderna has begun its third phase of COVID-19 vaccine trials. Affects the S&P 500

 

Technical Analysis

EUR/NZD

The leaders of European countries last week came to an agreement on the most difficult issue of economic recovery in the region. This forced traders to turn to European assets, including the euro. However, the positive news continued. Germany published a positive report on the business climate, while unemployment fell in France.

Traders may look at the EUR/NZD as the asset’s chart has moved beyond the descending channel. That is, the uptrend potential has opened before the pair.

CAD/JPY

The currency pair is trading at the lower border of the strategic range 78.36 – 80.21. Against this background, an upward reversal of the asset is possible.

GBP/AUD

We expect an increase in the quotes of the currency pair, since the “Pin-Bar” candlestick pattern has formed on the 1-week timeframe.

GBP/AUD on this day in history

  • Since 2000, July 28th has been a trading day 13 times.
  • On 53% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.11%.
  • The downward trend was limited to 0.46%.

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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