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News, Trends, & Analytics 01.08.2019

Beijing called the negotiations with the United States "constructive"

Eurozone growth halving could mean rate cuts, North Korea launched two more missiles in protest, & U.S. – China trade negotiations were seen as “constructive”.

 

News

Beijing described the U.S. and Chinese meeting as “constructive”, negotiators wrapped up a brief round of trade talks, including discussion of further purchases of American farm goods and an agreement to reconvene in September. Affects the S&P500


Expectations that the European Central Bank will further ease monetary policy in September emboldened within the market after Eurozone economic growth halved in the second quarter and inflation slowed sharply in July. Affects EUR


Washington said Tehran test-fired a medium-range missile last week, in response Iran’s defense minister said on Wednesday it was “normal” for the country to test missiles as part of its defense research, Iranian media reported. Affects Brent


Only days after it launched two similar missiles intended to pressure South Korea and the United States to stop upcoming military drills, the South Korean military said North Korea fired two short-range ballistic missiles early on Wednesday. Affects Gold


Data showed on Wednesday, unemployment edged up less than expected in July while German retail sales rose in June the most in more than 12 years, offering a glimmer of hope that household spending will prop up Europe’s largest economy. Affects EUR

 

Calendar

08:30 GMT

The British Manufacturing PMI for July will be released. The British Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. Affects GBP.


11:00 GMT

The BoE Interest Rate Decision will be announced. Bank of England (BOE) monetary policy committee members vote on where to set the rate. Affects GBP.


14:00 GMT

The U.S.’s ISM Manufacturing PMI for July will be published. The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report shows the changes in a number of categories.

 

Technical analysis

AUD/USD

Even a glimpse of optimism in relations between China and the United States leads to an increase in a plethora of assets. The Australian economy is no exception.

This asset received support from the positive results of the negotiations. The chart has broken through the upper limit of the channel, which may help the bulls push for further growth.

Brent

This asset’s chart is positive too. Quotes can rise to the upper border of the channel.

Ripple

We expect a pulse upward, toward a quotation of 0.329. In this case, the downward Fibonacci ray 0.5 will be broken, which will give a bullish signal.

 

USD/CAD on this day in history

  • Since 2000 August 1st has been a trading day 15 times.
  • On 67% of those days, the asset ended with growth.
  • The maximum reinforcement range was 0.71%.
  • The trend down was limited to 1.06%.

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