Analytics

News, Trends, & Analytics 05.07.2019

The Chinese ambassador to the UK reminded the kingdom that, “Hong Kong has now returned to the embrace of the Motherland.”

European banks should consolidate for the sake of efficiency, Britain tries to remind China of their Hong Kong agreement, & Russia is ready to talk disarmament and stability with the U.S.

 

News

European Central Bank supervisor Andrea Enria said the European banking system is still operating with excess capacity and there is room for more mergers to increase efficiency but not create ever-larger institutions. Affects the EUR


Trump administration officials announced top U.S. and Chinese representatives are organizing a resumption of talks for next week to try to resolve a year-long trade war between the world’s two largest economies. Affects the S&P500


China told Britain to mind its business after London appealed to Beijing to honor the agreement set forth in 1997 when Hong Kong was returned to Chinese control. Affects GBP


The European Union’s incoming chief executive, Germany’s Ursula von der Leyen, was welcomed by her predecessor Jean-Claude Juncker with his full support after being picked by the bloc’s 28 member states to replace him. Affects the EUR


President Vladimir Putin said Russia is ready to step up dialogue with the United States over disarmament and strategic stability; after discussing these issues with president Trump in Japan. Affects the RUB

 

Calendar

12:30 GMT

The U.S. Nonfarm Payrolls for June will be reported. This report looks at the strength of the U.S. job market and could affect the USD.


14:00 GMT

Canada’s Ivey PMI for June will be released It can be a leading indicator of overall economic performance. Affects the CAD.

 

Technical analysis

GBP/USD

Tensions between the UK and China are unlikely to last long, so the pound sterling is slow to respond to what is happening.

The asset may show the inverted figure “head and shoulders”. It’s a reversal signal, so quotes will likely grow.

Ripple

Ripple looks more positive than bitcoin. The asset is testing the lower border of the channel, so quotes may go to the upper border.

NZD/USD

This asset has shown two strong bearish signals: 1. the pair turned from level 0,67200. 2. the chart may show a double top shape in the near future.

 

NZD/USD on this day in history

  • Since 2000, July 5th has been a trading day 15 times.
  • On 29% of those days, the asset ended with growth.
  • The maximum reinforcement range was 0.34%.
  • The trend down was limited to 1.58%.
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